Identities for homogeneous utility functions
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...
- Autores:
-
Espinosa Farfán, Miguel Andrés
Hoyos, Alejandro
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2010
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- spa
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/8192
- Acceso en línea:
- http://hdl.handle.net/1992/8192
- Palabra clave:
- Identities
Homogeneous utility functions and household theory
Servicios públicos - Aspectos económicos
Economía doméstica - Colombia
D10, D11
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Espinosa Farfán, Miguel Andrésbc0ae1b2-2ad6-4a4a-8fd8-313fe8f6e71c500Hoyos, Alejandro7b2c7dc8-3f63-41b2-82d0-55e0ab6c2d0c5002018-09-27T16:51:09Z2018-09-27T16:51:09Z20101657-5334http://hdl.handle.net/1992/81921657-719110.57784/1992/8192instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/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 properties of each object. Finally, we show explicit algebraic ways to go from the indirect utility function to the expenditure function and from the Marshallian demand to the Hicksian demand and vice versa, without the need of any other function, thus simplifying the integrability problem avoiding the use of differential equations.Haciendo uso de una función de utilidad homogénea y continua, este documento prueba identidades explicitas entre la mayoría de funciones resultantes del problema del hogar. A su vez, también se propone la caracterización de la homogeneidad para cada una de las funciones. Finalmente, se muestran métodos algebraicos explícitos para ir de la función de gasto a la utilidad indirecta, y de las demandas Marshallianas a sus contrapartes Hicksianas y vice versa. La principal ganancia de esto último, es que al no ser necesaria una tercera función, el problema de integralidad se ve enormemente simplificado al omitir la solución de un sistema de ecuaciones diferenciales.20 páginasapplication/pdfspaUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No. 26 Septiembre de 2010https://ideas.repec.org/p/col/000089/007611.htmlIdentities for homogeneous utility functionsIdentidades para funciones de utilidad homogéneasDocumento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPIdentitiesHomogeneous utility functions and household theoryServicios públicos - Aspectos económicosEconomía doméstica - ColombiaD10, D11Facultad de EconomíaPublicationTEXTdcede2010-26.pdf.txtdcede2010-26.pdf.txtExtracted texttext/plain36698https://repositorio.uniandes.edu.co/bitstreams/b08c0063-6d09-4c6f-8516-c801e476d6dc/download55d99234768c055c83d5d79b244d2170MD54THUMBNAILdcede2010-26.pdf.jpgdcede2010-26.pdf.jpgIM Thumbnailimage/jpeg4326https://repositorio.uniandes.edu.co/bitstreams/f0cdf24d-319d-4f8a-a16b-9f63dc7a5592/downloadd40cbb26654e4bc589cbfc6412aa855eMD55ORIGINALdcede2010-26.pdfdcede2010-26.pdfapplication/pdf702827https://repositorio.uniandes.edu.co/bitstreams/84115003-6c9d-413c-b567-02c959f138ce/download2e24fcfa59d25944bfe2744172a33b78MD511992/8192oai:repositorio.uniandes.edu.co:1992/81922024-06-04 15:40:03.267http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
| dc.title.none.fl_str_mv |
Identities for homogeneous utility functions |
| dc.title.alternative.none.fl_str_mv |
Identidades para funciones de utilidad homogéneas |
| title |
Identities for homogeneous utility functions |
| spellingShingle |
Identities for homogeneous utility functions Identities Homogeneous utility functions and household theory Servicios públicos - Aspectos económicos Economía doméstica - Colombia D10, D11 |
| title_short |
Identities for homogeneous utility functions |
| title_full |
Identities for homogeneous utility functions |
| title_fullStr |
Identities for homogeneous utility functions |
| title_full_unstemmed |
Identities for homogeneous utility functions |
| title_sort |
Identities for homogeneous utility functions |
| dc.creator.fl_str_mv |
Espinosa Farfán, Miguel Andrés Hoyos, Alejandro |
| dc.contributor.author.none.fl_str_mv |
Espinosa Farfán, Miguel Andrés Hoyos, Alejandro |
| dc.subject.keyword.none.fl_str_mv |
Identities Homogeneous utility functions and household theory |
| topic |
Identities Homogeneous utility functions and household theory Servicios públicos - Aspectos económicos Economía doméstica - Colombia D10, D11 |
| dc.subject.armarc.none.fl_str_mv |
Servicios públicos - Aspectos económicos Economía doméstica - Colombia |
| dc.subject.jel.none.fl_str_mv |
D10, D11 |
| description |
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 properties of each object. Finally, we show explicit algebraic ways to go from the indirect utility function to the expenditure function and from the Marshallian demand to the Hicksian demand and vice versa, without the need of any other function, thus simplifying the integrability problem avoiding the use of differential equations. |
| publishDate |
2010 |
| dc.date.issued.none.fl_str_mv |
2010 |
| dc.date.accessioned.none.fl_str_mv |
2018-09-27T16:51:09Z |
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2018-09-27T16:51:09Z |
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Documento de trabajo |
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http://purl.org/coar/version/c_970fb48d4fbd8a85 |
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info:eu-repo/semantics/workingPaper |
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http://purl.org/coar/resource_type/c_8042 |
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Text |
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https://purl.org/redcol/resource_type/WP |
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http://purl.org/coar/resource_type/c_8042 |
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1657-5334 |
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http://hdl.handle.net/1992/8192 |
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1657-7191 |
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10.57784/1992/8192 |
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reponame:Repositorio Institucional Séneca |
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spa |
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spa |
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Documentos CEDE No. 26 Septiembre de 2010 |
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https://ideas.repec.org/p/col/000089/007611.html |
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20 páginas |
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application/pdf |
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Universidad de los Andes, Facultad de Economía, CEDE |
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Universidad de los Andes, Facultad de Economía, CEDE |
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