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Duality Between Direct and Indirect Preferences

Author

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  • Martinez-Legaz, J-E.
  • Santos, M.S.

Abstract

This paper develops a duality theory for preference orders, and highlights important differences with respect to the cardinal utility approach. Our main result is a symmetric duality theorem, under the minimal hypotheses, between direct and indirect preferences. In contrast to the cardinal theory, we also find that these conditions do not completely characterize the class of indirect preference orders.
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Suggested Citation

  • Martinez-Legaz, J-E. & Santos, M.S., 1991. "Duality Between Direct and Indirect Preferences," UFAE and IAE Working Papers 156.91, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    • Handle: RePEc:aub:autbar:156.91
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    Cited by:

    1. Martinez-Legaz, Juan-Enrique & Santos, Manuel S., 1996. "On expenditure functions," Journal of Mathematical Economics, Elsevier, vol. 25(2), pages 143-163.
    2. M. Ali Khan & Edward E. Schlee, 2016. "On Lionel McKenzie's 1957 intrusion into 20th‐century demand theory," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 49(2), pages 589-636, May.
    3. Vu Thi Huong & Jen-Chih Yao & Nguyen Dong Yen, 2017. "On the Stability and Solution Sensitivity of a Consumer Problem," Journal of Optimization Theory and Applications, Springer, vol. 175(2), pages 567-589, November.
    4. J. E. Martínez-Legaz, 1997. "Characterization of R-Evenly Quasiconvex Functions," Journal of Optimization Theory and Applications, Springer, vol. 95(3), pages 717-722, December.

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