Psychophysical foundations of the Cobb–Douglas utility function

Rossella Argenziano and Itzhak Gilboa

Economics Letters, 2017, vol. 157, issue C, 21-23

Abstract: Relying on a literal interpretation of Weber’s law in psychophysics, we show that a simple condition of independence across good categories implies the Cobb–Douglas preferences.

Keywords: Cobb–Douglas; Weber’s law; Semi-order (search for similar items in EconPapers)
JEL-codes: D11 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Psychophysical Foundations of the Cobb-Douglas Utility Function (2018)
Working Paper: Psychophysical Foundations of the Cobb-Douglas Utility Function (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:157:y:2017:i:c:p:21-23

DOI: 10.1016/j.econlet.2017.05.013

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