Articles

Psychophysical foundations of the Cobb–Douglas utility function

R. ARGENZIANO, I. GILBOA

Economics Letters

aout 2017, vol. 157, pp.21-23

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Mots clés : Cobb–Douglas, Weber’s law, Semi-order

https://ac.els-cdn.com/S016517651730191X/1-s2.0-S016517651730191X-main.pdf?_tid=29bb1524-1229-4c49-a053-fd662da2013b&acdnat=1522058549_4148725b1ba21aac09775cf8591b1eea


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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