Suppose that a decision-maker’s preferences over the set A={a,b, c} are represented by the payoff function u for which u(a) = 0,u(b) = 1, and u(c) = 4.
(a) Are they also represented by the function v for which v(a)=?1, v(b) = 0, and v(c) = 2?
(b) How about the function w for which w(a) =w(b) = 0 and w(c) =8?
(c) Give another example of a function f:A?R that represents thedecision-maker’s preferences.
(d) Is there a function that represents the decision-maker’spreferences and assigns negative numbers to all elements of A?
