What role is played by supposition of existence of neutral

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Reference no: EM132746776

There are three desserts A, B and C, where it is assumed that the agent X prefers both A and B to C.

Suppose a coin in our possession is biased 2-to-1 in favor of Heads (i.e., it has a 2/3 chance of landing Heads and a 1/3 chance of landing Tails when tossed), and that (concerning this coin) the statement "The coin lands Heads" functions as an ethically neutral proposition for X (that is, a proposition, whatever its probability, to whose truth or falsity X is indifferent).

Discussion a) Design a series of pairs of lotteries (utilizing this biased coin) that demonstrates that X's preference for A over B is more than two times but less than ten times his preference for B over C.

Discussion b) What role is played by the supposition of the existence of a neutral proposition in the employment of a scheme of lotteries in calibrating an agent's preferences?

Reference no: EM132746776

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