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A consumer's indirect utility (,) can be computed from their utility function (), defined over vectors of quantities of consumable goods, by first computing the most preferred affordable bundle, represented by the vector (,) by solving the utility maximization problem, and second, computing the utility ((,)) the consumer derives from that ...
Use of a user-defined function sq(x) in Microsoft Excel. The named variables x & y are identified in the Name Manager. The function sq is introduced using the Visual Basic editor supplied with Excel. Subroutine in Excel calculates the square of named column variable x read from the spreadsheet, and writes it into the named column variable y.
Inverting this formula gives the indirect utility function (utility as a function of price and income): (,) = (),where is the amount of income available to the individual and is equivalent to the expenditure ((,)) in the previous equation.
Indirect self-reference describes an object referring to itself indirectly. For example, define the function f such that f(x) = x(x). Any function passed as an argument to f is invoked with itself as an argument, and thus in any use of that argument is indirectly referring to itself.
The expenditure function is the inverse of the indirect utility function when the prices are kept constant. I.e, for every price vector and income level : [1]: 106 (, (,)) There is a duality relationship between the expenditure function and the utility function.
When using interpolation, the size of the lookup table can be reduced by using nonuniform sampling, which means that where the function is close to straight, we use few sample points, while where it changes value quickly we use more sample points to keep the approximation close to the real curve.
The main idea is to express an integral involving an integer parameter (e.g. power) of a function, represented by I n, in terms of an integral that involves a lower value of the parameter (lower power) of that function, for example I n-1 or I n-2. This makes the reduction formula a type of recurrence relation. In other words, the reduction ...
A well-formed formula is any atomic formula, or any formula that can be built up from atomic formulas by means of operator symbols according to the rules of the grammar. The language L {\displaystyle {\mathcal {L}}} , then, is defined either as being identical to its set of well-formed formulas, [ 48 ] or as containing that set (together with ...