Examlex
Sabrina just received a toy for her seventh birthday.She is describing all the things she likes and dislikes about the new toy.What type of customer is Sabrina?
Prefers
Indicates a choice or inclination for one option over others based on certain criteria or personal judgment.
Transitivity
In decision theory and economics, the concept that if option A is preferred to B, and B is preferred to C, then A should be preferred to C.
Kenneth Arrow
An influential economist known for his groundbreaking theories in risk, welfare economics, and his contribution to the general equilibrium theory.
Condorcet Paradox
The Condorcet Paradox describes a situation in voting theory where collective preferences can be cyclical, even if individual preferences are not, leading to a lack of clear majority preference.
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