Multivariate MRS functions and smooth preferences

ECONOMIC THEORY BULLETIN（2023）

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摘要

We construct a preference ordering and associated utility function from a given set of marginal rate of substitution (MRS) functions. Our method is novel and works for any number of goods, thus filling a gap in the existing literature on consumer behavior.

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关键词

MRS function,Preference ordering,Foliation,Frobenius theorem,Lie bracket

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