=+f. Now suppose that we assume individuals can make ordinal comparisons between bundles; that is, when faced by two bundles in your graph, they can tell us which they prefer or whether they are indifferent. Suppose these rankings are “rational,” that “more is better,” and that there are

“no sudden jumps” as we defined these in our development of consumer theory earlier in the text. Is this sufficient to allow us to assume there exist downward-sloping indifference curves that describe an individual’s tastes over the risky gambles we are graphing?