Economy of referential preferences

Goucha, T (2012): Economy of referential preferences.

Abstract

In this paper we introduce basic notions of new economic model where preference relations on commodities set are represented by a group action on Euclidean space instead of utility function. Conditions that ensure the existence of individual demand functions and a general equilibrium in the setting of exchange economy are examined.

• Item Type: MPRA Paper
• Language: English
• Keywords: General equilibrium, Preference Relations, Group theory
• Subjects: D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D50 - General; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D51 - Exchange and Production Economies; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C62 - Existence and Stability Conditions of Equilibrium

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