Verallgemeinerungen einfacher quasilinearer Nutzenfunktionen / Generalization of Simple Quasilinear Utility Functions

Monissen Hans G.
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Monissen Hans G.: Volkswirtschaftliches Institut der Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbesondere allgemeine Wirtschaftspolitik, Sanderring 2, D-97070 Würzburg

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1996, vol. 215, issue 1, 1-13

Abstract: Quasilinear utility functions, i.e. functions excluding an income or wealth effect for one variable, play an important role in modern economics. They often permit the reduction of the complexity of a given problem or provide the necessary input for higher order problems.The analysis proceeds as follows: First, the standard function specifies strong additivity which is generalized to strong separability. Second, the variable bearing the income effect is replaced by a linear homogenous function of many variables. Third, given the second order conditions for an optimum, the function of the variable subject only to a substitution effect can be extended to a strictly concave function of several variables.

Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:215:y:1996:i:1:p:1-13

DOI: 10.1515/jbnst-1996-0102

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