Non-monotonic utility functions for microeconomic analysis of sufficiency economy

This study invents four types of non-monotonic utility functions that suit the sufficiency economy. With these utility functions, an individual may not get higher utility when consume more goods. Therefore, an individual requires an optimal level of income rather than a maximized level of income to achieve the highest utility.

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Year of publication:	2011-08-31
Authors:	Suriya, Komsan
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	sufficiency economy \| utility function \| microeconomic analysis \| consumption \| optimality

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	D11 - Consumer Economics: Theory ; B59 - Current Heterodox Approaches. Other ; Q01 - Sustainable Development
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009323934