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




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 classification: D11, D12