Quasi-indifference classes in utility theory

Alan F. Beardon
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Alan F. Beardon: Department of Pure Mathematics, University of Cambridge, Cambridge CB2 1SB, ENGLAND

Economic Theory, 1995, vol. 6, issue 3, 529-534

Abstract: Although the indifference classes of a strictly monotonic preference relation defined on the positive orthant of n-space do not always separate , 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.

Date: 1997-11-09
Note: Received: September 30, 1992; revised version May 25, 1994
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