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Ordinal Space, Utility, and Consumer Demand: A Clarifying Note

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  • Dominique, C-Rene

Abstract

Concepts such as marginal utility, expected-utility, etc. are severely criticized in some quarters where economists are accused of performing mathematical operations in ordinal spaces. Haplessly, economists’ counterclaims are far from being substantive. This note shows that there exists an order-isomorphism relating preference ordering to a substantive set of real numbers and thus obviates the need for a utility index.

Suggested Citation

  • Dominique, C-Rene, 2016. "Ordinal Space, Utility, and Consumer Demand: A Clarifying Note," MPRA Paper 75030, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:75030
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    References listed on IDEAS

    as
    1. Dominique, C-Rene, 2008. "Walrasian Solutions Without Utility Functions," MPRA Paper 8906, University Library of Munich, Germany, revised 2008.
    2. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Ordinal Spaces; Binary Relation; Poset; Total Pre-ordering; Isomorphisms.;
    All these keywords.

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

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