Consumer Optimum and Model of Economic Interpretation in Microeconomics

Consumer choice theory uses continuous utility function, representing the consumer preference relation, as a traditional matter of course. However, there are alternative ways of defining consumer's optimum and proving its existence even without introducing such function. Contrasting both approaches raises question about aspects and limitations of economic interpretation of the mathematical form used in the theory. This article investigates economic interpretation in microeconomics as a relation of mathematical model and economic concepts and, using the example of consumer choice theory, formulates a model of economic interpretation based on the properties of analogical thinking, as defined by contemporary psychological literature. Model provides a framework for identifying risks coupled with economic interpretation of mathematical objects, their properties and relations.