Definition of u() A function u() from the set of alternatives into the set of real numbers

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Definition of u(·) A function u(·) from the set of alternatives into the set of real numbers is a uti/ity function representing the preference relation ≽ just in case x ≽ y ⇔ u(x) ≥ u(y) (for all x and y).

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A Course In Behavioral Economics

ISBN: 9781352010800,9781352010817

3rd Edition

Authors: Erik Angner

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Question Posted: Nov 25, 2024 10:00 AM

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Definition of u() A function u() from the set of alternatives into the set of real numbers is a uti/ity function representing the preference relation just in case x y u(x) u(y) (for all x and y).
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Definition of u() A function u() from the set of alternatives into the set of real numbers

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A Course In Behavioral Economics

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