Principle of rational choice

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Reference no: EM139982

Problem: Annoyed by student complaints, the Department of Psychology fired Dr. Pitz and decided to hire someone else to teach the course in decision theory. There were four candidates for the position, Molly, Nollie, Ollie, and Polly. The department appointed a selection committee consisting of Professors Alfer, Baiter, and Gammer. The committee decided that its decisions would be based on a simple majority vote among the three of them.

Grumpy as always, Dr. Pitz muttered to the committee as he left, "You realize your decisions may well be irrational!" Why did Dr. Pitz draw this conclusion?

Hint: Assume that when they are asked privately to rank order the candidates from most to least preferred, the committee members respond as follows:

1st                    2nd       3rd      4th
Alfer Mollie        Nollie    Ollie      Polly
Baiter Nollie      Ollie      Molly     Polly
Gammer Ollie    Mollie    Nollie    Pollie

Obviously no-one likes Polly, but there's disagreement over the other candidates.

Explain why in this case a majority voting rule would violate an important principle of rational choice.

Reference no: EM139982

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