discrete choice and the CES utility function, which describes a multiple choice of a representative consumer. We base our … option, coincides with the demand system of a fictitious representative agent with CES utility function. Thus, the multiple … new interpretation for the elasticity of substitution and the weighting coefficients of the CES utility function …

concave utility function is also a necessary condition for such a numerical representation. In fact we are able to obtain a … necessary condition for numerical representation of a homothetic preference relation by a concave utility function which we call …

optimal portfolio choice by maximising the conditional utility function for each individual conditioning variable, and then …

-dependent utilities can be normalized to obtain decision utility -- a single utility function able to describe decisions involving …