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Consider Four Gambles: A,B, C, D A>BA>B And C>DC>D And My Preferences Satisfy the Independence Axiom, Then What Must

Question 1

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Consider four gambles: A,B, C, D. If A>BA>B and C>DC>D and my preferences satisfy the independence axiom, then what must be true for any p[0,1]p \in[0,1] ?


A) pA+(1p) B>pA+(1p) Cp A+(1-p) B>p A+(1-p) C
B) A>CA>C
C) pC+(1p) B>pD+(1p) Bp C+(1-p) B>p D+(1-p) B
D) pC+(1p) B>(1p) D+pBp C+(1-p) B>(1-p) D+p B

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