Hyperopic topologies on $l^{∞}$

Paulo Klinger Monteiro; Jaime Orrillo; Rudy José Rosas Bazán

doi:10.3934/jdg.2018001

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2018, Volume 5, Issue 1: 1-7. Doi: 10.3934/jdg.2018001

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Hyperopic topologies on $l^{∞}$

1.
FGV EPGE, Escola Brasileira de Economia e Finanças, Rio de Janeiro RJ 22250-900, Brazil
2.
Graduate School of Economics, Catholic University of Brasilia 70790-160, Brazil
3.
Departamento de Ciencias -Sección Matemática, Pontifical Catholic University of Peru, San Miguel, Lima, Peru

* Corresponding author
* Corresponding author

Received: December 31, 2016

Revised: August 31, 2017

Published: December 2017

P. K. Monteiro acknowledges the financial support of CNPq-Brazil
J. Orrillo acknowledges CNPq-Brazil for financial support project 309525/2013-6.

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Abstract

Myopic economic agents are well studied in economics. They are impatient. A myopic topology is a topology such that every continuous preference relation is myopic. If the space is $l^{∞}$, the Mackey topology $τ _{M}(l^{∞},l^{1})$, is the largest locally convex such topology. However there is a growing interest in patient consumers. In this paper we analyze the extreme case of consumers who only value the long run. We call such a consumer hyperopic. We define hyperopic preferences and hyperopic topologies. We show the existence of the largest locally convex hyperopic topology, characterize its dual and determine its relationship with the norm dual of $l^{∞}$.

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Mathematics Subject Classification: Primary: 91B08; Secondary: 46A03.

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