Individual Preference Intransitivity

as an attempt to maximize something.1 The first rationality assumption will be treated as a truism, and this study will examine the second assumption: of Preference Orderings. Since this psychological assumption, which is basic to economic theory, is rejected by most psychologists, there is reason for the economist to show concern. Since most empirical tests of choice behavior appear to reflect intransitive preference patterns,2 there is reason for the economist to investigate the nature of rationality. Transitivity might be considered synonymous with internal consistency. If a set of preferences is transitive, the alternatives are ordered in a progression, from most preferred to least preferred. For purposes of exposition herein, strong algebraic transitivity will be discussed before weak. A strongly ordered group is a group in which there is no ambiguity of position, each element of the group having a unique position in the ordering. Preference will be