Computability of Preference, Utility, and Demand

This paper studies consumer theory from the bounded rationality approach proposed in Richter and Wong (1996a), with a 'uniformity principle' constraining the magnitudes (prices, quantities, etc.) and the operations (to perceive, evaluate, choose, communicate, etc.) that agents can use. In particular, we operate in a computability framework, where commodity quantities,prices, consumer preferences, utility functions, and demand functions are computable by finite algorithms. We obtain a computable utility represent ation theorem. We also provide a revealed preference characterization of computable rationality for the finite case.