CLASSIFICATION OF BUDGET-INVARIANT MONOTONIC PREFERENCES

A linear utility representation theorem due to Blackwell and Girshick (1953) is used to answer the question as formulated by Grandmont (1987) whether Cobb-Douglas representable preferences are the only ones which are budget-invariant.

MoreLess

Year of publication:	1989
Authors:	Trockel, Walter
Publisher:	ELSEVIER SCIENCE SA LAUSANNE

More details

Type of publication:	Article
Language:	English
Source:	BASE

Persistent link: https://www.econbiz.de/10009452621