Measuring utility from demand

Yuhki Hosoya

Journal of Mathematical Economics, 2013, vol. 49, issue 1, 82-96

Abstract: This study presents a new method to calculate a preference relation from a demand function. Our method works well under the weak axiom and can calculate a smooth utility function if the demand function obeys the strong axiom. Further, if the demand function is derived from a customary utility function, our method restores the original preference. Our method provides a complete and rigorous proof of Samuelson’s conjecture. In addition to these results, we guarantee the recoverability: i.e., the uniqueness of the preference relation corresponding to a demand function.

Keywords: Integrability; Weak axiom; Comparative statics; Recoverability (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:49:y:2013:i:1:p:82-96

DOI: 10.1016/j.jmateco.2012.10.001

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