Given a choice between beer and steak, John chooses the steak. Given a choice between steak and ice cream, John chooses the ice cream. Given a choice between ice cream and beer, John chooses the beer.
Does this really happen? Can money be pumped out? For example, offer John the opportunity to pay $0.05 to upgrade his beer for a steak, then $0.05 to upgrade that to an ice cream cone, then $0.05 to upgrade that to a beer. Run forever. I think if you actually did this you’d find that of the three there actually is one that John would prefer to have.
Does this really happen? Can money be pumped out? For example, offer John the opportunity to pay $0.05 to upgrade his beer for a steak, then $0.05 to upgrade that to an ice cream cone, then $0.05 to upgrade that to a beer. Run forever. I think if you actually did this you’d find that of the three there actually is one that John would prefer to have.