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Representations of preferences with pseudolinear utility functions
- Source :
- Journal of Mathematical Psychology, Journal of Mathematical Psychology, Elsevier, 2019, 89, pp.1-12. ⟨10.1016/j.jmp.2019.01.001⟩
- Publication Year :
- 2019
- Publisher :
- Elsevier BV, 2019.
-
Abstract
- We provide an axiomatization of preferences that are representable by pseudolinear utility functions on product spaces C × R . A set of necessary and sufficient axioms that a binary relation must fulfill to be representable by a pseudolinear utility function is given. Our framework gives axiomatic foundations to the “money in the utility function” approach in monetary economics. Axiomatizations of quasilinear utility functions, of separable pseudolinear utility functions, of group separable pseudolinear utility functions are derived. A particular attention is given to additive separable pseudolinear utility functions. Extensions to C × I with I a non-degenerate open interval of R are given. An axiomatization of Cobb–Douglas utility functions is obtained.
- Subjects :
- Group (mathematics)
Binary relation
Applied Mathematics
010102 general mathematics
05 social sciences
Function (mathematics)
01 natural sciences
050105 experimental psychology
[SHS]Humanities and Social Sciences
Separable space
Set (abstract data type)
Quasilinear utility
Product (mathematics)
0501 psychology and cognitive sciences
0101 mathematics
Mathematical economics
General Psychology
Axiom
Mathematics
Subjects
Details
- ISSN :
- 00222496 and 10960880
- Volume :
- 89
- Database :
- OpenAIRE
- Journal :
- Journal of Mathematical Psychology
- Accession number :
- edsair.doi.dedup.....08f06afd8c897802515c08a471c28eee