The notion of utility is an ordinal one for which it is assumed that people can rank
Question:
(a) Military or academic ranks;
(b) Prices of vintage wines;
(c) Rankings of vintage wines by the French Wine Society;
(d) Press rankings of the "Top Ten" football teams;
(e) Results of the U.S. Open Golf Championships (in which players are ranked by the number of strokes they take);
(f) Results of the NCAA basketball tournament (which is conducted using a draw that matches teams against one another until a final winner is found)?
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Related Book For
Intermediate Microeconomics and Its Application
ISBN: 978-1133189039
12th edition
Authors: Walter Nicholson, Christopher M. Snyder
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