Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/34120
Authors: 
Candeal, Juan Carlos
Induráin, Esteban
Molina, José Alberto
Year of Publication: 
2007
Series/Report no.: 
IZA Discussion Papers 2594
Abstract: 
It is shown that any completely preordered topological real algebra admits a continuous utility representation which is an algebra-homomorphism (i.e., it is linear and multiplicative). As an application of this result, we provide an algebraic characterization of the projective (dictatorial) preorders defined on Rn. We then establish some welfare implications derived from our main result. In particular, the connection with the normative property called independence of the relative utility pace is discussed.
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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