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Question A1 Let X be the set of alternatives available to a decision maker. a) Define a rational preference relation k Explain why these conditions
Question A1 Let X be the set of alternatives available to a decision maker. a) Define a rational preference relation k Explain why these conditions may or may not reflect the rationality of a decision maker. [10 marks] b) Show that the indifference relation ~ and the strict preference relation > derived from the rational preference relation k are transitive. [10 marks]
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