Suppose that Fiona likes cashews better than almonds and likes almonds better than walnuts. She likes pecans equally well as hazelnuts and prefers hazelnuts to almonds. Can we characterize Fiona’s preferences of being “complete”? Can we characterize them of being “transitive”? Justify your answer.

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics
Section20.1: Utility Theory
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Suppose that Fiona likes cashews better than almonds and likes almonds better than walnuts. She likes pecans equally well as hazelnuts and prefers hazelnuts to almonds.

Can we characterize Fiona’s preferences of being “complete”? Can we characterize them of being “transitive”? Justify your answer.

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