For any two occurrences A and B, you will either prefer A to B, or prefer B to A, or be indifferent between them? If you prefer A to B and B to C, then you'll prefer A to C? If you're indifferent ...
Bell, David E. "Utility and Risk Preferences." In Advances in Decision Analysis, edited by Ward Edwards, Ralph Miles, and Detlof von Winterfeldt. Cambridge: Cambridge University Press, 2007.
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