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The Irrelevance of the Diachronic Money-Pump Argument for Acyclicity
2013
Journal of Philosophy
The money-pump argument is the standard argument for the acyclicity of rational preferences. The argument purports to show that agents with cyclic preferences are in some possible situations forced to act against their preference. In the usual, diachronic version of the money-pump argument, such agents accept a series of trades that leaves them worse o than before. Two stock objections are (i) that one may get the dri and refuse the trades and (ii) that one may adopt a plan to only accept some
doi:10.5840/jphil2013110819
fatcat:glpfl5iz5jhfnlyal7kfxpvtzm