Paper #628

Title:

Additive utility with intransitive indifference and without independence: A homogeneous case

Authors:

Marc Le Menestrel and Bertrand Lemaire

Date:

June 2002

Abstract:

In the homogeneous case of one type of goods or objects, we prove the existence of an additive utility function without assuming transitivity of indifference and independence. The representation reveals a positive factor smaller than 1 that infuences rational choice beyond the utility function and explains departures from these standard axioms of utility theory (factor equals to 1).

Keywords:

Rationality, utility, maximization

JEL codes:

A00, B40, C00, D00

Area of Research:

Business Economics and Industrial Organization

Published in:

Journal of Mathematical Psychology, 48, (2004), pp. 9-14
With the title:
Biased Extensive Measurement: The Homogeneous Case

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