A utility representation theorem with weaker continuity condition

We prove that a mixture continuous preference relation has a utility representation if its domain is a convex subset of a finite dimensional vector space. Our condition on the domain of a preference relation is stronger than Eilenberg (1941) and Debreu (1959, 1964), but our condition on the continuity of a preference relation is strictly weaker than the usual continuity assumed by them.     

Preference symmetries,partial differential equations,and functional forms for utility

A discrete symmetry of a preference relation is a mapping from the domain of choice to itself under which preference comparisons are invariant; a continuous symmetry is a one-parameter family of such transformations that includes the identity; and a symmetry field is a vector field whose trajectories generate a continuous symmetry. Any continuous symmetry of a preference relation implies that its representations satisfy a system of PDEs. Conversely the system implies the continuous symmetry if the latter is generated by a field. Moreover, solving the PDEs yields the functional form for utility equivalent to the symmetry. This framework is shown to encompass a variety of representation theorems related to univariate separability, multivariate separability, and homogeneity, including the cases of Cobb–Douglas and CES utility.     

The relationship between revealed preference and the Slutsky matrix

This paper presents a method of calculating the utility function from a smooth demand function whose Slutsky matrix is negative semi-definite and symmetric. The calculated utility function is the unique upper semi-continuous function corresponding with the demand function. Moreover, we present an axiom for demand functions. We show that under the strong axiom, this new axiom is equivalent to the existence of the corresponding continuous preference relation. If the demand function obeys this axiom, the calculated utility function is also continuous. Further, we show that the mapping from the demand function into a continuous preference relation is continuous, which ensures the applicability of our results for econometrics. Moreover, if this demand function satisfies the rank condition, then our utility function is smooth. Finally, we show that under an additional axiom, the above results hold even if the demand function has corner solutions.     

基于模糊偏序关系的消费者偏好测评

了解消费者偏好是企业营销活动的基础性工作。本文首先利用模糊偏序关系的排序方法,解决消费者偏好的心理测度的模糊性问题,论证了用模糊偏序关系对心理测度进行评价是一种较好的方法;然后利用决策理论中的condorect函数把个人偏好合成群体偏好;最后用实例验证了该方法对消费者偏好进行评价的可行性。     

A PRIMER ON MATHEMATICAL MODELLING IN ECONOMICS

Abstract The Commission on Graduate Education in Economics had raised several concerns regarding the role of mathematics in graduate training in economics ( Krueger, 1991 ; Colander, 1998, 2005 ). This paper undertakes a detailed scrutiny of the notion of a utility function to motivate and describe the common patterns across mathematical concepts and results that are used by economists. In the process one arrives at a classification of mathematical terms which is used to state mathematical results in economics. The usefulness of the classification scheme is illustrated with the help of a discussion of Arrow's impossibility theorem. Common knowledge of the patterns in mathematical concepts and results could be effective in enhancing communication between students, teachers and researchers specializing in different sub‐fields of economics.     

上市公司股权融资偏好与融资成本的研究与对策

我国上市公司强烈的股权融资偏好有悖于西方融资理论和实践,本文从定性与定量方面分析了我国上市公司股权融资偏好的原因,指出了过度股权融资所产生的危害,并提出了相应的对策。     

审计师行为选择与其独立性偏好关系分析

现行关于审计师行为实证研究中,大都基于审计意见类型推断审计师独立性,没有对审计意见类型为什么能代表审计师独立性进行分析和讨论,本文采用偏好、选择与效用经济学基础理论来进行分析和证明。通过逻辑分析、模型构建和推导发现,对审计意见类型的选择结构能够推断审计师对独立性的偏好关系,这种关系是基于审计师效用最大化做出的。     

Randomly evolving tastes and delayed commitment

We consider a decision maker with randomly evolving tastes who faces dynamic decision situations that involve intertemporal tradeoffs, such as those in consumption savings problems. We axiomatize a recursive representation of choice that features uncertain consumption utilities, which evolve according to a subjective Markov process. The parameters of the representation, which are the subjective Markov process governing the evolution of utilities, and the discount factor, are uniquely identified from behavior. We relate the correlation of tastes over time and the desire to delay commitment to future consumption.     

A simple measure of skewness

Groeneveld (1986) in discussing the skewness for the Weibull family has pointed out the shortcomings of the classical measures of asymmetry—the standardized third moment and the Pearson measure of skewness. He has shown that a modified form of the Pearson measure b₃= (μ-m)/E|X-m| portrays the skewness of Weibull family quite well. We give another competitive measure of skewness T that is easy to interpret and is based on conditional expectations. The proposed measure satisfies the desirable properties of a skewness measure.     

Characterization of the existence of semicontinuous weak utilities

In this paper we characterize the existence of semicontinous weak utilities for acyclic binary relations. We shall reobtain directly from that result sufficient conditions that are available in the literature.     

个体理性、风险偏好、社会地位与我国消费增长

基于跨期替代资产选择理论，本文建立了一个较为符合我国实际的模型，并结合相关经济数据将其用于分析我国消费增长问题。发现：（1）提高跨期替代弹性是解决我国消费不足问题的关键；（2）通过减少个体风险偏好或提高其对社会地位的重视程度来增加消费的方法在理论上并不可行；（3）通过减少贫富差距来减少社会地位因素受重视程度，可能对刺激消费有一定作用。     

薪酬制度人力资源效用研究

本文从经济学角度研究在工资总成本支出一定的情况下,采用何种薪金机制可以使得员工的满意度与企业利润率的最大化,即选择正确的薪酬制度使得以固定的成本获取最大的产出。根据员工对不同薪酬制度下的满意度和工作热情建立模型,拟定了不同的薪酬制度即高底薪惩罚制度严格型和低底薪奖励制度完善型制度,通过设定得到薪金和效率相关关系,依据模型的分析得出员工在不同薪酬制度下,对工作热情及公司效益大小的数据进行比较分析,最后选出两者之间较优者作为制定薪酬制度的依据。     

Accounting for optimism and pessimism in expected utility

We provide a preference foundation for decision under risk resulting in a model where probability weighting is linear as long as the corresponding probabilities are not extreme (i.e., 0 or 1). This way, most of the elegance and mathematical tractability of expected utility is maintained and also much of its normative foundation. Yet, the new model can accommodate the extreme sensitivity towards changes from 0 to almost impossible and from almost certain to 1 that has widely been documented in the experimental literature. The model can be viewed as “expected utility with the best and worst in mind” as suggested by Chateauneuf, Eichberger and Grant (Chateauneuf, Alain, Eichberger, Jürgen, Grant, Simon, 2007. Choice under uncertainty with the best and worst in mind: NEO-Additive capacities. Journal of Economic Theory 137, 538–567) or, following our preference foundation, interpreted as “expected utility with consistent optimism and pessimism”.     

关于证券市场投资者风险偏好的实证研究

根据显现偏好理论,投资者的投资行为显现了其内在的风险偏好。在本文中,采用均衡分析方法,以中国证券市场中的指数序列为样本,综合期望收益、方差,自相关系数等统计量,准确反映证券组合的投资价值,揭示市场中投资者作为一个整体所具有的风险偏好和投资组合无差异曲线的形式。