Journal of Economic Theory and Econometrics: Journal of the Korean Econometric Society
Home About    Aims and Scope    Editorial Board Submit Archive Search
Journal of Economic Theory and Econometrics
JETEM/계량경제학보/計量經濟學報/JKES
Journal of the Korean Econometric Society

Utility Representation of Homothetic Preferences

Vol.37, No.2, June , 23–42



  •   (Ewha Womans University)

PDF
Abstract  

We offer an accessible proof of the existence of utility representation for continuous and homothetic preferences. When restricted to the Euclidean setting, our result is applicable to both positive and negative quantities while the standard proofs based on monotonicity are limited to the non-negative orthant. Our analysis also clarifies the roles played by key assumptions in the classic results. Our utility representation embodies an inherent asymmetry between regions of the alternatives space which may be interesting for extensions and applications.


Keywords
   Homotheticity, utility representation, monotonicity.

JEL classification codes
   C60, D11.
Links

KCI
KES
SCOPUS
MathJax