Economic Theory

, Volume 3, Issue 2, pp 335–351

Duality between direct and indirect preferences

  • Juan -Enrique Martinez-Legaz
  • Manuel S. Santos
Research Articles

Summary

This paper develops a duality theory for preference orders, and highlights important differences with respect to the cardinal utility approach. Our main result is a symmetric duality theorem, under the minimal hypotheses, between direct and indirect preferences. In contrast to the cardinal theory, we also find that these conditions do not completely characterize the class of indirect preference orders.

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References

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Copyright information

© Springer-Verlag 1993

Authors and Affiliations

  • Juan -Enrique Martinez-Legaz
    • 1
  • Manuel S. Santos
    • 2
  1. 1.Departamento de EconomicaUniversidad Autonoma de BarcelonaBellaterraSpain
  2. 2.Departamento de EconomicaUniversidad Carlos III de MadridGetafeSpain

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