Economy, asked by mousumideka04, 2 months ago

why can lexicographic preferences not be represented by a unity function?​

Answers

Answered by MoonxDust
2

Usually, if a binary relation is complete, transitive and reflexive, then it can be represented by a utility function. However, if X is uncountable, that may not be true. In fact, the lexicographic preferences cannot be represented by a utility function, as you are going to prove.

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