A tractable alternative to Cobb-Douglas utility for imperfect competition

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.

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Year of publication:	2000
Authors:	Yin, Xiangkang
Institutions:	Department of Economics and Finance, La Trobe Business School
Subject:	Utility Function \| Reservation Price \| Income Effect \| Monopoly \| Oligopoly

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2000.10 16 pages
Classification:	B41 - Economic Methodology ; D11 - Consumer Economics: Theory ; E21 - Consumption; Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010541794