Marc Le Menestrel
Affiliate Professor of Decision Sciences
Intransitive Preferences; Incomplete Preferences; Irrational Behavior; Emotional Behavior; Procedural Concerns; Ethical Values; Biased Measurement; Scale-Invariance; Homotheticity;
In the homogeneous case of one-dimensional objects, the authors show that any relation that is positive and homothetic can be represented by a ratio-scale and a unique and constant biasing factor. This factor may favor or disfavor the preference for an object over another.In the first case, preferences are complete but not transitive and an object may be preferred even when its value is lower. In the second case, preferences are asymmetric and transitive but not negatively transitive and it may not be sufficient for an object to have a greater value to be preferred.In this manner, the biasing factor reflects the extent to which preferences may depart from a maximization process.