So-Called Utility Function

Takashi Hayashi ()
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Takashi Hayashi: University of Glasgow

Chapter Chapter 4 in Microeconomic Theory for the Social Sciences, 2021, pp 45-62 from Springer

Abstract: Abstract There are many statements in economics which can be obtained by directly tracking the properties of preferences. Not only that, in principle every statement in economics is obtained by doing this. However, it is customary to represent preferences by means of numerical functions in order to make analysis more operational. In the previous chapter I wrote that the “mountain” described by a series of indifference curves is not assigned numbers describing its height, but I’m here saying that we will assign such numbers for our convenience.

Date: 2021
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DOI: 10.1007/978-981-16-3541-0_4

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