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Quasi-indifference Classes in Utility Theory

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  • Beardon, Alan F

Abstract

Although the indifference classes of a strictly monotonic preference relation defined on the positive orthant "Omega" of n-space do not always separate "Omega," one can always construct quasi-indifference classes which do. In many cases the quasi-indifference classes coincide with the indifference classes but, in general, two quasi-indifference classes can intersect. It has been asserted that, on economic grounds, this does not normally happen; here, we examine this assertion from a mathematical point of view.

Suggested Citation

  • Beardon, Alan F, 1995. "Quasi-indifference Classes in Utility Theory," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(3), pages 529-534, November.
    • Handle: RePEc:spr:joecth:v:6:y:1995:i:3:p:529-34
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    Cited by:

    1. Beardon, Alan F. & Rowat, Colin, 2013. "Efficient sets are small," Journal of Mathematical Economics, Elsevier, vol. 49(5), pages 367-374.

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