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Psychophysical foundations of the Cobb–Douglas utility function

Argenziano, Rossella and Gilboa, Itzhak (2017) 'Psychophysical foundations of the Cobb–Douglas utility function.' Economics Letters, 157. 21 - 23. ISSN 0165-1765

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Abstract

Relying on a literal interpretation of Weber’s law in psychophysics, we show that a simple condition of independence across good categories implies the Cobb–Douglas preferences.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 26 May 2017 13:36
Last Modified: 11 Apr 2019 11:15
URI: http://repository.essex.ac.uk/id/eprint/19734

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