Abstract
We revisit the problem of integrability in the consumer theory, focusing on the main difficulties. First, we look for a neat and simple local existence result, and then for a global solution. Second, observing that a utility function (or indirect utility function) cannot be determined uniquely, we propose a means to get a kind of uniqueness result. Our approach is coordinate-free and can be used both in the classical case of a finite-dimensional commodity space and in the case an infinite-dimensional model is adopted.
| Original language | English |
|---|---|
| Pages (from-to) | 2495-2509 |
| Number of pages | 15 |
| Journal | Optimization |
| Volume | 64 |
| Issue number | 12 |
| DOIs | |
| State | Published - 2 Dec 2015 |
Bibliographical note
Publisher Copyright:© 2015 Taylor & Francis.
Keywords
- Frobenius theorem
- consumer theory
- integrability problem
- revealed preferences
- utility function
ASJC Scopus subject areas
- Control and Optimization
- Management Science and Operations Research
- Applied Mathematics