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Debreu-like properties of utility representations
Authors:A Caserta  A Giarlotta  S Watson
Institution:1. Department of Mathematics, Second University of Naples, Via Vivaldi, Caserta 81100, Italy;2. Department of Economics and Quantitative Methods, University of Catania, Corso Italia 55, Catania 95129, Italy;3. Department of Mathematics and Statistics, York University, 4700 Keele Street, Toronto M3J 1P3, Canada
Abstract:Traditionally the codomain of a utility function is the set of real numbers. This choice has the advantage of ensuring the existence of a continuous representation but does not allow to represent many preference structures that are relevant to utility theory. Recently, some authors have started a systematic study of utility representations that are not real-valued, introducing the notion of a Debreu chain. We continue their analysis defining two Debreu-like properties, which are connected to a local continuity of a utility representation. The classes of locally Debreu and pointwise Debreu chains here introduced enlarge the class of Debreu chains. We give several examples and analyze some properties of these two classes of chains, with particular attention to lexicographic products.
Keywords:C60  D11
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