Remarks on the consumer problem under incomplete preferences

Remarks on the consumer problem under incomplete preferences

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Article ID: iaor20111426
Volume: 70
Issue: 1
Start Page Number: 95
End Page Number: 110
Publication Date: Jan 2011
Journal: Theory and Decision
Authors:
Keywords: vector optimization
Abstract:

This article revisits the standard results of demand theory when the preference relation is a continuous preorder that admits an equicontinuous multi‐utility representation. We study the consumer problem as the constrained maximization of a continuous vector‐valued utility mapping, and show how to rederive those results. In particular, we provide a link between the literature on vector optimization and the analysis of the consumer problem under incomplete preferences.

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