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On a class of smooth preferences

Author

Listed:
  • Andrea Attar

    (CNRS, University of Toulouse Capitole
    Università degli Studi di Roma “Tor Vergata”)

  • Thomas Mariotti

    (CNRS, University of Toulouse Capitole)

  • François Salanié

    (INRA, University of Toulouse Capitole)

Abstract

We construct a complete space of smooth strictly convex preferences defined over commodities and monetary transfers. Our model extends the classical one in that preferences are strictly monotone in monetary transfers, but need not be monotone in all commodities. We thereby provide a natural framework for performing genericity analyses in situations involving inventory costs or decisions under risk. The constructed space of preferences is contractible, which allows for a natural aggregation procedure in collective decision situations.

Suggested Citation

  • Andrea Attar & Thomas Mariotti & François Salanié, 2019. "On a class of smooth preferences," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(1), pages 37-57, May.
    • Handle: RePEc:spr:etbull:v:7:y:2019:i:1:d:10.1007_s40505-018-0142-y
    DOI: 10.1007/s40505-018-0142-y
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    References listed on IDEAS

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    More about this item

    Keywords

    Smooth preferences; Nonmonotonicity; Collective choice;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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