Dialectica 64 (2):251-257 (2010)

Authors
Johan E. Gustafsson
University of York
Abstract
The standard argument for the claim that rational preferences are transitive is the pragmatic money-pump argument. However, a money-pump only exploits agents with cyclic strict preferences. In order to pump agents who violate transitivity but without a cycle of strict preferences, one needs to somehow induce such a cycle. Methods for inducing cycles of strict preferences from non-cyclic violations of transitivity have been proposed in the literature, based either on offering the agent small monetary transaction premiums or on multi-dimensional preferences. This paper argues that previous proposals have been flawed and presents a new approach based on the dominance principle.
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DOI 10.1111/j.1746-8361.2010.01230.x
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References found in this work BETA

The Logic of Decision.Richard C. Jeffrey - 1965 - New York, NY, USA: University of Chicago Press.
Rationality and Dynamic Choice: Foundational Explorations.Edward Francis McClennen - 1990 - Cambridge, England: Cambridge University Press.

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Citations of this work BETA

Rational Choice and the Transitivity of Betterness.Toby Handfield - 2014 - Philosophy and Phenomenological Research 89 (3):584-604.

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