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Computability of Preference, Utility, and Demand


  • Richter, M.K.
  • Wong, K-C.


This paper studies consumer theory from the bounded rationality approach proposed in Richter and Wong (1996a), with a 'uniformity principle' constraining the magnitudes (prices, quantities, etc.) and the operations (to perceive, evaluate, choose, communicate, etc.) that agents can use. In particular, we operate in a computability framework, where commodity quantities,prices, consumer preferences, utility functions, and demand functions are computable by finite algorithms. We obtain a computable utility represent ation theorem. We also provide a revealed preference characterization of computable rationality for the finite case.

Suggested Citation

  • Richter, M.K. & Wong, K-C., 1996. "Computability of Preference, Utility, and Demand," Papers 298, Minnesota - Center for Economic Research.
  • Handle: RePEc:fth:minner:298

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    Cited by:

    1. Richter, Marcel K. & Wong, Kam-Chau, 1999. "Computable preference and utility," Journal of Mathematical Economics, Elsevier, vol. 32(3), pages 339-354, November.

    More about this item



    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques


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