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We show that any complete, lower-semicontinuous, and translation- invariant preorder defined on a topological vector space admits a linear and continuous utility representation.
Persistent link: https://www.econbiz.de/10005753444
The purpose of this addendum is to correct some results published in our paper "Some issues related to the topological aggregation of preferences" (SCW (1992) 9: 213-227). <!--ID="" Acknowledgements. Thanks are given to Prof. Boris A. Efimov and Gleb A. Koshevoy (Moskow, Russia), Luc Lauwers (Leuven, Belgium) and Michael Sunderland (Oxford, U.K.) for their valuable suggestions and comments.-->
Persistent link: https://www.econbiz.de/10005369256
In order to formalize the act of agreement between two individuals, the concept of consensus functional equation, for a bi-variate map defined on an abstract choice set, is introduced. Then, and in a purely choice-theoretical framework, we relate the solutions of this equation to the notion of a...
Persistent link: https://www.econbiz.de/10009416943
It is shown that any completely preordered topological real algebra admits a continuous utility representation which is an algebra-homomorphism (i.e., it is linear and multiplicative). As an application of this result, we provide an algebraic characterization of the projective (dictatorial)...
Persistent link: https://www.econbiz.de/10005822421
Necessary and sufficient conditions are presented for the existence of a pair u,v of positively homogeneous of degree one real functions representing an interval order [InlineMediaObject not available: see fulltext.] on a real cone K in a topological vector space E (in the sense that, for every...
Persistent link: https://www.econbiz.de/10005752918
We analyze the structure of a semiorder, paying attention to its representability through a real-valued function and a positive constant threshold (the so-called Scott-Suppes representation). We furnish a new set of sufficient conditions for the Scott-Suppes representability of semiorders....
Persistent link: https://www.econbiz.de/10005364827
In this paper we study an astonishing similarity between the utility representation problem in economics and the entropy representation problem in thermodynamics.
Persistent link: https://www.econbiz.de/10005178707
Persistent link: https://www.econbiz.de/10005542795
This paper studies the topological approach to social choice theory initiated by G. Chichilnisky (1980), extending it to the case of a continuum of agents. The social choice rules are continuous anonymous maps defined on preference spaces which respect unanimity. We establish that a social...
Persistent link: https://www.econbiz.de/10005369389
Persistent link: https://www.econbiz.de/10005388393