Psychophysical foundations of the Cobb–Douglas utility function

Rossella Argenziano; Itzhak Gilboa

doi:https://doi.org/10.1016/j.econlet.2017.05.013

Psychophysical foundations of the Cobb–Douglas utility function

Rossella Argenziano, Itzhak Gilboa

School of Economics

Tel Aviv University

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

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.

Original language	English
Pages (from-to)	21-23
Number of pages	3
Journal	Economics Letters
Volume	157
DOIs	https://doi.org/10.1016/j.econlet.2017.05.013
State	Published - Aug 2017

Keywords

Cobb–Douglas
Semi-order
Weber's law

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

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https://doi.org/10.1016/j.econlet.2017.05.013

Cite this

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title = "Psychophysical foundations of the Cobb–Douglas utility function",

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.",

keywords = "Cobb–Douglas, Semi-order, Weber's law",

author = "Rossella Argenziano and Itzhak Gilboa",

note = "Publisher Copyright: {\textcopyright} 2017 Elsevier B.V.",

year = "2017",

month = aug,

doi = "https://doi.org/10.1016/j.econlet.2017.05.013",

language = "الإنجليزيّة",

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pages = "21--23",

journal = "Economics Letters",

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publisher = "Elsevier B.V.",

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T1 - Psychophysical foundations of the Cobb–Douglas utility function

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AU - Gilboa, Itzhak

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AB - 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.

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KW - Semi-order

KW - Weber's law

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DO - https://doi.org/10.1016/j.econlet.2017.05.013

M3 - مقالة

SN - 0165-1765

VL - 157

SP - 21

EP - 23

JO - Economics Letters

JF - Economics Letters

ER -

Psychophysical foundations of the Cobb–Douglas utility function

Abstract

Keywords

All Science Journal Classification (ASJC) codes

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