Ordients: Optimization and comparative statics without utility functions

A-Tier
Journal: Journal of Economic Theory
Year: 2014
Volume: 154
Issue: C
Pages: 612-632

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper introduces the concept of ordient for binary relations (preferences), a relative of the concept of gradient for functions (utilities). Ordients have a natural economic interpretation as marginal rates of substitution. Some examples of ordientable binary relations include the lexicographic order, binary relations resulting from the sequential applications of multiple rationales or binary relations with differentiable representations. We characterize the constrained maxima of binary relations through ordients and provide an implicit function theorem and an envelope theorem.

Technical Details

RePEc Handle
repec:eee:jetheo:v:154:y:2014:i:c:p:612-632
Journal Field
Theory
Author Count
2
Added to Database
2026-01-29