DEMAND FUNCTIONS WITH INFERIOR GOODS: THE IMPLICIT FUNCTION APPROACH

In this article, we propose a numerically computable utility function that can apply to inferior goods. The implicit function and its optimization technique are fully used. Since the implicit function is carefully formulated, it works well as a standard utility function. This technique ensures tract...

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Veröffentlicht in:	Hitotsubashi journal of economics 2019-06, Vol.60 (1), p.79-105
1. Verfasser:	Takahashi, Shuji
Format:	Artikel
Sprache:	eng
Schlagworte:	Demand curves Economic theory Optimization Optimization techniques Production functions Utility functions
Online-Zugang:	Volltext
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