Maccheroni, Fabio - In: Decisions in Economics and Finance 24 (2001) 1, pp. 41-47
This paper describes properties of homothetic preferences on a subset X of a vector space which is star-shaped with respect to 0 (e.g., a cone). We prove that a preference relation on X is homothetic, greedy and calibrated if and only if there exists a positively homogeneous function that...