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In this paper we characterize metric spaces used in Beardon's generalization of Arrow-Hahn utility representation method as generalized Peano continua. For continuous preference relations defined on such metric spaces, we further construct an upper semi-continuous utility function which...
Persistent link: https://www.econbiz.de/10008488324
In this paper we characterize metric spaces used in Beardon's generalization of Arrow-Hahn utility representation method as generalized Peano continua. For continuous preference relations defined on such metric spaces, we further construct an upper semi-continuous utility function which...
Persistent link: https://www.econbiz.de/10005089398
Nonnormative models of aggregative agricultural production are frequently based on the correlation of output variables with prices (usually lagged) and outputs lagged over time. "Structural" models of this kind relate these correlations indirectly to the behavioral and technical structure that...
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Bounded rationality provides a fundamental economic explanation for non-rational modes of behavior. These non-rational modes underlie both the erratic perturbations of entrepreneurship and the systematic waves of diffusion they initiate which in turn guarantee that the economy operates out of...
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