Additive utility with intransitive indifference and without independence: A homogeneous case
AbstractIn the homogeneous case of one type of goods or objects, we prove the existence of an additive utility function without assuming transitivity of indifference and independence. The representation reveals a positive factor smaller than 1 that infuences rational choice beyond the utility function and explains departures from these standard axioms of utility theory (factor equals to 1).
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 628.
Date of creation: Jun 2002
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Web page: http://www.econ.upf.edu/
Rationality; utility; maximization;
Find related papers by JEL classification:
- A00 - General Economics and Teaching - - General - - - General
- B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
- C00 - Mathematical and Quantitative Methods - - General - - - General
- D00 - Microeconomics - - General - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-07-04 (All new papers)
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