Co-monotonicity: Toward a utility function capturing envy

Moshe Levy

doi:10.1016/j.econlet.2011.09.002

Co-monotonicity: Toward a utility function capturing envy

Moshe Levy

BA Business Department

The Hebrew University of Jerusalem

Research output: Contribution to journal › Article › peer-review

Abstract

Envy affects economic decisions, and can lead to monotonicity violation. We introduce co-monotonicity-a generalization of monotonicity, expected to hold even in the presence of envy. Experimental results and implications for the form of possible utility functions are discussed.

Original language	English
Pages (from-to)	16-19
Number of pages	4
Journal	Economics Letters
Volume	114
Issue number	1
DOIs	https://doi.org/10.1016/j.econlet.2011.09.002
State	Published - Jan 2012

Keywords

Competitive preferences
Envy
First order Stochastic Dominance
Keeping up with the Joneses
Monotonicity

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

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10.1016/j.econlet.2011.09.002

Cite this

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title = "Co-monotonicity: Toward a utility function capturing envy",

abstract = "Envy affects economic decisions, and can lead to monotonicity violation. We introduce co-monotonicity-a generalization of monotonicity, expected to hold even in the presence of envy. Experimental results and implications for the form of possible utility functions are discussed.",

keywords = "Competitive preferences, Envy, First order Stochastic Dominance, Keeping up with the Joneses, Monotonicity",

author = "Moshe Levy",

note = "Funding Information: I am grateful to the anonymous referee for very helpful comments and suggestions. Financial support from the Zagagi Fund is gratefully acknowledged. I thank Poly Beker for excellent research assistance.",

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N1 - Funding Information: I am grateful to the anonymous referee for very helpful comments and suggestions. Financial support from the Zagagi Fund is gratefully acknowledged. I thank Poly Beker for excellent research assistance.

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N2 - Envy affects economic decisions, and can lead to monotonicity violation. We introduce co-monotonicity-a generalization of monotonicity, expected to hold even in the presence of envy. Experimental results and implications for the form of possible utility functions are discussed.

AB - Envy affects economic decisions, and can lead to monotonicity violation. We introduce co-monotonicity-a generalization of monotonicity, expected to hold even in the presence of envy. Experimental results and implications for the form of possible utility functions are discussed.

KW - Competitive preferences

KW - Envy

KW - First order Stochastic Dominance

KW - Keeping up with the Joneses

KW - Monotonicity

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DO - 10.1016/j.econlet.2011.09.002

M3 - مقالة

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EP - 19

JO - Economics Letters

JF - Economics Letters

IS - 1

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Co-monotonicity: Toward a utility function capturing envy

Abstract

Keywords

All Science Journal Classification (ASJC) codes

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