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Homothetic preferences

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  • Dow, James
  • Werlang, Sérgio Ribeiro da Costa

Abstract

This paper describes properties of upper semi-continuous homothetic preferences. First we give conditions for the existence of an upper semi-continuous representation which is homogeneous of degree one. Then we show that with the additional assumptions of monotonicity or strict convexity, the preference is continuous. Several counterexamples illustrate the tightness of the results.

Suggested Citation

  • Dow, James & Werlang, Sérgio Ribeiro da Costa, 1991. "Homothetic preferences," FGV/EPGE Economics Working Papers (Ensaios Economicos da EPGE) 176, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  • Handle: RePEc:fgv:epgewp:176
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