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Identities 1 homogeneous utility functions and household theory 1
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English 1
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Espinosa, Miguel A. 1 Prada-Sarmiento, Juan D. 1
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UNIVERSIDAD DE LOS ANDES-CEDE 1
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Identities For Homogeneous Utility Functions
Espinosa, Miguel A.; Prada-Sarmiento, Juan D. - UNIVERSIDAD DE LOS ANDES-CEDE - 2010
Using a homogeneous and continuous utility function that represents a household's preferences, this paper proves explicit identities between most of the different objects that arise from the utility maximization and the expenditure minimization problems. The paper also outlines the homogeneity...
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