Definable Utility in O-Minimal Structures

Richter, Marcel K.
Wong, Kam-Chau
1996-12
Thumbnail Image

View/Download File

1996-296.pdf (500.56 KB)

Persistent link to this item

https://hdl.handle.net/11299/55816
Statistics
View Statistics

Journal Title

Journal ISSN

Volume Title

Title

Definable Utility in O-Minimal Structures

Authors

Published Date

1996-12

Publisher

Center for Economic Research, Department of Economics, University of Minnesota

Type

Working Paper

Abstract

Representing binary ordering relations by numerical functions is a basic problem of the theory of measurement. It has applications in many fields of science, and arises in psychology and economics as the problem of establishing utility functions for preference relations. We obtain definable utility representations for (both continuous and upper semicontinuous) definable preferences in o-minimal expansions of real closed ordered fields. Such preferences have particular significance for modeling "bounded rationality" [18]. Our proofs are based on geometric theorems for definable sets, and provide new alternatives to the classical tools of separability (Debreu [5], Rader [16]) and metric-completeness (Arrow and Hahn [1]). The initial application of these ideas in economics was made by Blume and Zame (1992). Our results extend their Theorem 1 in several directions (see Remark la below).

Keywords

Description

Related to

Replaces

License

Collections

Center for Economic Research Discussion Papers

Series/Report Number

Discussion Paper
 296

Funding information

Isbn identifier

Doi identifier

Previously Published Citation

Richter, M.K. and Wong, K., (1996), "Definable Utility in O-Minimal Structures", Discussion Paper No. 296, Center for Economic Research, Department of Economics, University of Minnesota.

Suggested citation

Richter, Marcel K.; Wong, Kam-Chau. (1996). Definable Utility in O-Minimal Structures. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/55816.

Content distributed via the University Digital Conservancy may be subject to additional license and use restrictions applied by the depositor. By using these files, users agree to the Terms of Use. Materials in the UDC may contain content that is disturbing and/or harmful. For more information, please see our statement on harmful content in digital repositories.