Continuously differentiable preferences
Adolfo García de la Sienra ()
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Adolfo García de la Sienra: Universidad Veracruzana, México
Contaduría y Administración, 2016, vol. 61, issue 2, 334–352
This is a paper on the foundations of individual rational choice, specifically on the foundations of consumer theory. Neoclassical consumer theory requires that the behavior of the consumer be explained by means of a preference relation, and that all the required properties of the corresponding utility representation be derived from the properties of this relation. Yet, it is not clear what is the meaning of the property of the preference relation required in order to show that it is representable by means of a continuously differentiable C1 utility function. The aim of the present paper is to propose an explanation of such property and to prove the existence of a C1 representation.
Keywords: Differentiable preferences; Utility theory; Rational choice; Foundations of consumer theory (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:nax:conyad:v:61:y:2016:i:2:p:334-352
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