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Homothetic and weakly homothetic preferences

1995; Elsevier BV; Volume: 24; Issue: 2 Linguagem: Inglês

10.1016/0304-4068(94)00677-3

1873-1538

Juan C. Candeal, Esteban Induráin,

Decision-Making and Behavioral Economics

This paper describes properties of homothetic and weakly homothetic preferences defined on a cone of Rn. We obtain a general result concerning the structure of weakly homothetic preferences. As an application of it, we answer a recent conjecture posed by Dow and Werlang. Further results are also proved, including a full classification of weakly homothetic preferences defined on the real line (n = 1), and a characterization of the generalized Cobb-Douglas preorders on Rn++.