FON, VINCY; BOULIER, BRYAN L.; GOLDFARB, ROBERT S. - In: Studies in Economics and Finance 9 (1985) 2, pp. 29-36
Many texts display circular indifference curves. The rationale for such curves typically requires that goods become bads — that is, their marginal utilities become negative — over some range (e.g., Baumol [1], p. 199). In this note we develop what seems to be a far more general and...
