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Psychophysical Foundations of the Cobb-Douglas Utility Function

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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.

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hal-01933881 , version 1 (24-11-2018)

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Rossella Argenziano, Itzhak Gilboa. Psychophysical Foundations of the Cobb-Douglas Utility Function. 2018. ⟨hal-01933881⟩
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