A tractable alternative to Cobb-Douglas utility for imperfect competition

Xiangkang Yin

No 2000.10, Working Papers from School of Economics, La Trobe University

Abstract: This paper proposes a tractable alternative to Cobb-Douglas utility to resolve the problems of lack of reservation price and income effects in demand functions derived from Cobb-Douglas utility or quasilinear utility. Another advantage of this alternative is that it provides a closed-form general equilibrium in the case where some industries are monopoly while others are imperfectly competitive.

Keywords: Utility Function; Reservation Price; Income Effect; Monopoly; Oligopoly EDIRC Provider-Institution: RePEc:edi:smlatau (search for similar items in EconPapers)
JEL-codes: B41 D11 E21 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2000
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Related works:
Journal Article: A Tractable Alternative to Cobb‐Douglas Utility for Imperfect Competition (2001)
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