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An axiom for concavifiable preferences in view of Alt’s theory

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  • Hosoya, Yuhki

Abstract

We present a necessary and sufficient condition for Alt’s system to be represented by a continuous utility function. Moreover, we present a necessary and sufficient condition for this utility function to be concave. The latter condition can be seen as an extension of Gossen’s first law, and thus has an economic interpretation. Together with the above results, we provide a necessary and sufficient condition for Alt’s utility to be continuously differentiable.

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  • Hosoya, Yuhki, 2022. "An axiom for concavifiable preferences in view of Alt’s theory," Journal of Mathematical Economics, Elsevier, vol. 98(C).
    • Handle: RePEc:eee:mateco:v:98:y:2022:i:c:s0304406821001464
    DOI: 10.1016/j.jmateco.2021.102583
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    References listed on IDEAS

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    Cited by:

    1. Yuhki Hosoya, 2023. "Utilitarian Theorems and Equivalence of Utility Theories," Papers 2304.09973, arXiv.org, revised Sep 2023.

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