If You Have Given to the Local Children's Charitable Organization

question 33

Multiple Choice

If you have given to the local children's charitable organization for the homeless in the past, you will most likely

• A)refuse the next time.
• B)triple your donation the next time.
• C)give the same as last time.
• D)be willing to collect donations for them in your own neighborhood the next time.

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Definitions:

Transitivity

In decision theory, the principle that if preference A is greater than B, and B is greater than C, then A is greater than C.

Arrow's Impossibility Theorem

A theorem that demonstrates the impossibility of devising a social welfare function that satisfies all of a specified set of reasonable conditions simultaneously.

Majority Rule

A decision-making rule in which policies or choices are decided based on the preference of the majority of participants.

Transitive Preferences

A condition in decision-making where if an individual prefers option A over B, and B over C, then the individual also prefers A over C.