Timeline for Can an irrational function be a utility function?
Current License: CC BY-SA 4.0
7 events
| when toggle format | what | by | license | comment | |
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| Nov 9, 2020 at 20:32 | vote | accept | Tsangares | ||
| Oct 30, 2020 at 0:40 | comment | added | Herr K. | As my linked answer and the answer by @WalrasianAcutioneer suggest, any real-valued function can represent some rational preference. I think you might be confusing rationality of preferences with rationality of functions. A rational function is one that can be expressed as a ratio of two polynomial functions, so the word "rational" here is used as an adjective of "ratio". In contrast, a rational preference is one that embeds some intuitive sense of reasonableness. Although the same word is used, but it has different meanings in the two cases. | |
| Oct 30, 2020 at 0:24 | answer | added | Walrasian Auctioneer | timeline score: 4 | |
| Oct 29, 2020 at 23:14 | comment | added | Tsangares | @HerrK. Not exactly, they are considering the existence of utility functions based on non-continuous preference relations. I am slightly asking about the existence of utility functions based on non-rational preferences. More directly I am asking, given a function with a non-rational preferences relation, can it still be a utility function? | |
| Oct 29, 2020 at 21:03 | comment | added | Herr K. | Does this answer your question: economics.stackexchange.com/a/18234/42? | |
| Oct 29, 2020 at 20:48 | history | edited | Tsangares | CC BY-SA 4.0 |
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| Oct 29, 2020 at 20:43 | history | asked | Tsangares | CC BY-SA 4.0 |