Search results
Results from the WOW.Com Content Network
1 Examples. 2 Properties. ... Download as PDF; Printable version; In other projects ... a Leontief utility function is a function of the form: (, ...
Download as PDF; Printable version; ... In economics and consumer theory, a linear utility function is a function of the form: ... For example, if there is an ...
Convex preferences with their associated convex indifference mapping arise from quasi-concave utility functions, although these are not necessary for the analysis of preferences. For example, Constant Elasticity of Substitution (CES) utility functions describe convex, homothetic preferences.
Download QR code; Print/export Download as PDF; Printable version; In other projects ... This category is for specific utility functions, properties or classes of ...
4 Examples. Toggle Examples subsection. ... Download as PDF; Printable version; ... When the utility function of agent ...
One use of the indirect utility concept is the notion of the utility of money. The (indirect) utility function for money is a nonlinear function that is bounded and asymmetric about the origin. The utility function is concave in the positive region, representing the phenomenon of diminishing marginal utility. The boundedness represents the fact ...
Under these requirements, every stream is equivalent to a constant-utility stream, and every two constant-utility streams are separable by a constant-utility stream with a rational utility, so condition #2 of Debreu is satisfied, and the preference relation can be represented by a real-valued function.
These functions are commonly used as examples in consumer theory. The functions are ordinal utility functions, which means that their properties are invariant under positive monotone transformation. For example, the Cobb–Douglas function could also be written as: + . Such functions only become interesting when there are two or more ...