Examlex
Which of the following statements about the role perceptions of the organizational buyer affecting the purchasing process is true?
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.
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