On the multi-utility representation of preference relations

Özgür Evren, Efe A. Ok

    Research output: Contribution to journalArticle

    Abstract

    We develop the ordinal theory of (semi)continuous multi-utility representation for incomplete preference relations. We investigate the cases in which the representing sets of utility functions are either arbitrary or finite, and those cases in which the maps contained in these sets are required to be (semi)continuous. With the exception of the case where the representing set is required to be finite, we find that the requirements of such representations are surprisingly weak, pointing to a wide range of applicability of the representation theorems reported here. Some applications to decision theory under uncertainty and consumer theory are also considered.

    Original languageEnglish (US)
    Pages (from-to)554-563
    Number of pages10
    JournalJournal of Mathematical Economics
    Volume47
    Issue number4-5
    DOIs
    StatePublished - Aug 2011

    Keywords

    • Incomplete preferences
    • Multi-objective optimization
    • Ordinal
    • Utility representation

    ASJC Scopus subject areas

    • Economics and Econometrics
    • Applied Mathematics

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