p∈[0,1]
Small nitpick, but is this meant to say p∈(0,1] instead? Because if p=0, then the axiom reduces to L⪰M⟺N⪰N, which seems impossible to satisfy for all L,M,N∈L (for nearly all preference relations).
Small nitpick, but is this meant to say p∈(0,1] instead? Because if p=0, then the axiom reduces to L⪰M⟺N⪰N, which seems impossible to satisfy for all L,M,N∈L (for nearly all preference relations).