It is shown that any completely preordered topological real algebra admits a continuous utility representation which is … utility pace is discussed. …

discussed. Essentially, the Cambridge economists were not particularly disturbed by the assumptions of cardinal utility and … utilitarian utility and social welfare function are described and the values of the parameters are assigned based upon the … developed economies). With a realistic concave utility function underlying the social welfare function, the benefits of trade …

's aspirations? In a direct empirical test, it is found that higher income aspirations reduce people's utility, ceteris paribus …. Individual data on reported satisfaction with life are used as a proxy measure for utility, and income evaluation measures are …

Happiness research in economics takes reported subjective well-being as a proxy measure for utility and has already … economics has a lot of potential, but that it needs to be guided more by theory. We propose two ways to test theories of … understanding of utility in economics. Here, we study the introduction of income aspirations in individuals’ utility functions in …

, both dealt with a Lie Theory approach. So, mathematical aspects for these approaches are put forward and discussed in …