Biased Representation of Homothetic Preferences on Homogeneous Sets

This file is part of IDEAS, which uses RePEc data

Biased Representation of Homothetic Preferences on Homogeneous Sets

Author Info

Marc Le Menestrel ()
Bertrand Lemaire

Abstract

In the homogeneous case of one-dimensional objects, we show that any preference relation that is positive and homothetic can be represented by a quantitative utility function and unique bias. This bias may favor or disfavor the preference for an object. In the first case, preferences are complete but not transitive and an object may be preferred even when its utility is lower. In the second case, preferences are asymmetric and transitive but not negatively transitive and it may not be sufficient for an object to have a greater utility for be preferred. In this manner, the bias reflects the extent to which preferences depart from the maximization of a utility function.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

Publisher Info
Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 794.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: Nov 2004
Date of revision:
Handle: RePEc:upf:upfgen:794

Contact details of provider:
Web page: http://www.econ.upf.edu/

For technical questions regarding this item, or to correct its listing, contact: ().

Other versions of this item:

Find related papers by JEL classification:
D00 - Microeconomics - - General - - - General
D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
O22 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis

This paper has been announced in the following NEP Reports:

NEP-ALL-2005-09-29 (All new papers)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Bertrand Lemaire & Marc Le Menestrel, 2004. "Homothetic Interval Orders," Economics Working Papers 793, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
Amartya Sen, 1997. "Maximization and the Act of Choice," Econometrica, Econometric Society, vol. 65(4), pages 745-780, July.
Other versions:
- Sen, A., 1996. "Maximisation and the Act of Choice," Papers 270, Banca Italia - Servizio di Studi.
- Amartya Sen, 1996. "Maximization and the Act of Choice," Harvard Institute of Economic Research Working Papers 1766, Harvard - Institute of Economic Research.

Full references

Statistics
Access and download statistics

Did you know? You too can volunteer for RePEc, for example by editing a NEP report.

This page was last updated on 2009-11-27.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.