A Money-Pump for Acyclic Intransitive Preferences

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 Jeffrey - 1965 - University of Chicago Press.
Ethics Out of Economics.John Broome - 1999 - Cambridge University Press.

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Citations of this work BETA

Rational Choice and the Transitivity of Betterness.Toby Handfield - 2013 - Philosophy and Phenomenological Research 87 (1):584-604.
Money Pumps, Incompleteness, and Indeterminacy.Johan E. Gustafsson - 2016 - Philosophy and Phenomenological Research 92 (1):60-72.

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