You find out that your roommate has intransitive preferences over eating three choices of breakfast, Apple...

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You find out that your roommate has intransitive preferences over eating three choices of breakfast, Apple Jacks (x), Bran Flakes (y), and Cheerios (z). Your roommate's preference relation is such that x > y, y > z, and z > x. You have a box of Apple Jacks and a box of Bran Flakes, while your roommate has a box of Cheerios. Your roommate is willing to pay some money to be able to exchange a less preferred breakfast choice for a more preferred breakfast choice. Demonstrate how you may propose a series of exchanges so that at the end your room- mate will be happily handing some money to you for nothing. You find out that your roommate has intransitive preferences over eating three choices of breakfast, Apple Jacks (x), Bran Flakes (y), and Cheerios (z). Your roommate's preference relation is such that x > y, y > z, and z > x. You have a box of Apple Jacks and a box of Bran Flakes, while your roommate has a box of Cheerios. Your roommate is willing to pay some money to be able to exchange a less preferred breakfast choice for a more preferred breakfast choice. Demonstrate how you may propose a series of exchanges so that at the end your room- mate will be happily handing some money to you for nothing.

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To take advantage of your roommates intransitive preferences and propose a series of exchanges that ... View the full answer