Concept · Foundations
Preference Ordering
A ranking of alternatives that a decision maker holds, ideally satisfying completeness (every pair is comparable) and transitivity (if A is preferred to B and B to C, then A is preferred to C).
Why it matters
A coherent preference ordering is the foundation of rational choice; inconsistent preferences make any decision tool unreliable and expose the agent to money pumps.
Where this shows up
Units and lessons using this concept
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