Suppose that three different versions of a bill (A, B, and C) appear before a committee of 12 people. Four people prefer version A to version B to Version C. Four people prefer version B to version C to version A. Four people prefer version C to version A to Version B. Because there is no majority, the chair of the committee will first hold a vote between two of the alternatives, then the winner of this vote will face the remaining bill version. Show using game theory that if people vote their preferences, the chair effectively chooses which version will be the winner.
HAS TO BE 250-350 WORDS.