hw1_soln

# hw1_soln - Solution Homework Assignment 1 Econ 150b...

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Solution Homework Assignment 1 Econ 150b. Intermediate Microeconomics January 24, 2008 1. Blanche Carter devised a system for rating the boys in her economics class. She cares about their intelligence and their looks. She ranks each male on a scale of 1 to 5 for intelligence and 1 to 3 for looks (1 is the lowest). She defines a preference relation as follows: x y if boy x scores at least as high as boy y in either looks or in intelligence. Consider the following example of 3 boys x , y and z : x y z intelligence 1 2 2 looks 1 1 2 Are Blanches preferences transitive? Explain. By definition, a preference is transitive if x y and y z then x z . Hence, in this case, x y means that intelligence of boy x is higher or equal than intelligence of boy y or looks of boy x is higher than looks of boy y . So, we can use the example, x y z intelligence 1 2 2 looks 1 1 2 and we can see that this preference is not transitive. x y , y z , however x z is not true.

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