Economy of Referential Preferences A new mathematical approach for choice theory and general equilibrium
In this paper we introduce basic notions of a new economic model where preference relations on commodities set are represented by a group action on Euclidean space instead of utility function. Conditions that ensure the existence of individual demand function and a general equilibrium in the setting...
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2012-09-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/776.pdf
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| Summary: | In this paper we introduce basic notions of a new
economic model where preference relations on commodities set are
represented by a group action on Euclidean space instead of utility
function. Conditions that ensure the existence of individual demand
function and a general equilibrium in the setting of exchange economy
are examined. |
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| ISSN: | 1841-8678 1844-0029 |