THREE KINDS OF UTILITY FUNCTIONS FROM THE MEASURE CONCEPT

Josep E. Peris and Begoña Subiza

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: In this paper we analyze the existence of three different kinds of continuous numerical representations for binary relations by using a finite measure defined on the space of alternatives. Each one of these kinds of representation is suitable for a different class of binary relations. Thus we obtain the traditional utility function for continuous preorders and weaker representations by dropping continuity or transitivity conditions (in particular, for lexicographical orders or acyclic relations).

Keywords: Utility Function; Measure; Numerical Representation. (search for similar items in EconPapers)
Pages: 27 pages
Date: 1995-05
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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:1995-11

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