Duality between Direct and Indirect Preferences
AbstractThis paper develops a duality theory for preference orders, and highlights important differences with respect to the cardinal utility approach. Our main result is a symmetric duality theorem, under the minimal hypotheses, between direct and indirect preferences. In contrast to the cardinal theory, we also find that these conditions do not completely characterize the class of indirect preference orders.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 3 (1993)
Issue (Month): 2 (April)
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
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- Martinez-Legaz, Juan-Enrique & Santos, Manuel S., 1996.
"On expenditure functions,"
Journal of Mathematical Economics,
Elsevier, vol. 25(2), pages 143-163.
- E. Martinez Legaz & M. Santos, 1994. "On Expenditure Functions," Working Papers 9402, Centro de Investigacion Economica, ITAM.
- Martínez Legaz, Juan Enrrique & Santos, Manuel S., . "On expenditure functions," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/2916, Universidad Carlos III de Madrid.
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