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 classification: D11, D12

 

 
   

 

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