Jointly continuous utility functions on submetrizable \(k_\omega\)-spaces (Q2347052)

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Jointly continuous utility functions on submetrizable \(k_\omega\)-spaces
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    Jointly continuous utility functions on submetrizable \(k_\omega\)-spaces (English)
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    26 May 2015
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    The authors work in the framework of numerical representations of preorders defined on a topological space, looking for continuous real-valued functions that represent the given preorder (they should be order-preserving). Those real-valued maps are usually known as utility functions. The existence of such numerical representations strongly depends on the topology given, as well as on the compatibility between preorder and topology. Thus, for instance, a preorder is said to be continuous whenever the lower and upper contours of any element are closed. Among the spaces that have good properties in this relationship between order and topology, the authors have dealt with the particular case of a Hausdorff topological space \(X\) that is the inductive limit of an increasing sequence of metric compact subspaces of \(X\). These spaces are technically known as submetrizable \(k_\omega\)-spaces. Indeed, they feature nice properties and seem to be very interesting in the study of the utility representation problem. Every closed preorder on a submetrizable \(k_\omega\)-space has a continuous utility representation and some theorems on the existence of jointly continuous utility functions have been recently proved. When the commodity space is locally compact second countable, \textit{K. Back} [J. Math. Econ. 15, 129--142 (1986; Zbl 0606.90014)] proved the existence of a continuous map from the space of total preorders topologized by closed convergence (Fell topology) to the space of utility functions with different choice sets (partial maps) endowed with a generalization of the compact-open topology. In this paper the authors have generalized Back's Theorem to the context of submetrizable \(k_\omega\)-spaces endowed with a family of not necessarily total preorders. The continuous utility representation theorems on submetrizable \(k_\omega\)-spaces have some economic applications. In fact, an example of a submetrizable \(k_\omega\)-space is the space of tempered distributions, which has been used to define a new state preference model in the infinite dimensional case. The authors also provide a nice final example of an application which mathematically interprets families of markets.
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    submetrizable \(k_\omega\)-spaces
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    jointly continuous utility functions
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    numerical representations of preorders
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    space of tempered distributions
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    state preference model
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