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Additive utility with intransitive indifference and without independence: A homogeneous case

Marc Le Menestrel () and Bertrand Lemaire

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: In the homogeneous case of one type of goods or objects, we prove the existence of an additive utility function without assuming transitivity of indifference and independence. The representation reveals a positive factor smaller than 1 that infuences rational choice beyond the utility function and explains departures from these standard axioms of utility theory (factor equals to 1).

Keywords: Rationality; utility; maximization (search for similar items in EconPapers)
JEL-codes: A00 B40 C00 D00 (search for similar items in EconPapers)
Date: 2002-06
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