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3 . Consider the finite choice set C = { l , s , c , b } , with the following descriptions of four
Consider the finite choice set C l s c b with the following descriptions of four cars: l little sports car s snow car good in snow c comfortable car b big boring SUV. Suppose that the decision maker decided to pick s from the entire choice set C Suppose that we hypothesize the following picks from some subsets of the choice set: Cl c b pick c Cl c pick l a Write down a list of all of the RP is revealed preferred to statements that we can get from this data. b Are there any violations of WARP? Explain.
Consider the finite choice set C l s c b with the following descriptions of four cars:
l little sports car
s snow car good in snow
c comfortable car
b big boring SUV.
Suppose that the decision maker decided to pick s from the entire choice set C
Suppose that we hypothesize the following picks from some subsets of the choice set:
Cl c b pick c
Cl c pick l
a Write down a list of all of the RP is revealed preferred to statements that we can get from this data.
b Are there any violations of WARP? Explain.
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