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 InfoPaper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 156.91.
Length: 22 pages
Date of creation: 1991
Date of revision:
economic theory ; microeconomics ; economic models;
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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.
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