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Remarks on the consumer problem under incomplete preferences

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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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Authors and Affiliations

  1. New York University, New York, NY, USA

    Leandro Nascimento

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  1. Leandro Nascimento
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Correspondence to Leandro Nascimento.

Additional information

I am grateful to Efe A. Ok for suggesting the problem and for his continuous support. I also benefited from the comments of two anonymous reviewers, and from discussions with Ozgur Evren and Gil Riella on an earlier draft. This article was previously titled “On Demand Theory with Incomplete Preferences”.

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Nascimento, L. Remarks on the consumer problem under incomplete preferences. Theory Decis 70, 95–110 (2011). https://doi.org/10.1007/s11238-010-9206-7

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  • DOI: https://doi.org/10.1007/s11238-010-9206-7

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