Journal of Economics and Management Volume 14, No. 1 February, 2018

Indirect Utility Reflecting Anxiety and Flexibility of Choice

Somdeb Lahiri

School of Petroleum Management, P D Petroleum University, India.

Abstract

This paper introduces the concept of an indirect utility function reflecting anxiety of choice and an indirect utility function reflecting flexibility of choice. Using a total of six different properties, we provide separate axiomatic characterisations of these two kinds of indirect utility functions.

Keywords：Indirect Utility Function, Anxiety of Choice, Flexibility of Choice.

JEL Classifications：D11, D12.

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