Logarithmically homogeneous preferences
研究正消费集上的对数齐次函数,通过差分比较关系给出公理,使得所有代表该偏好的效用函数都是对数齐次的,并证明这些效用函数强凹且间接效用函数也对数齐次。
An extended-real-valued function on R+n is called logarithmically homogeneous if it is given by the logarithmic transformation of a homogeneous function on R+n. Specifying a consumer’s preference on the consumption set by a difference comparison relation, this paper provides some axioms on the relation under which the full class of utility functions representing the relation are logarithmically homogeneous. It is also shown that all the utility functions are strongly concave and all the indirect utility functions are logarithmically homogeneous. Moreover, the additively separable logarithmic utility functions are derived by strengthening one of the axioms.