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- W3124808766 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." @default.
- W3124808766 created "2021-02-01" @default.
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- W3124808766 date "2014-11-01" @default.
- W3124808766 modified "2023-09-26" @default.
- W3124808766 title "Ordients: Optimization and comparative statics without utility functions" @default.
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- W3124808766 doi "https://doi.org/10.1016/j.jet.2014.09.013" @default.
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