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EnglishUtility functions of several variables are ubiquitous in economics. Their maximization requires inversion of the gradient map. Using convex analysis tools, we provide a representation of an extension of this inverse that accounts for possible constraints. To solve economic equilibrium problems, the utility functions of the agents are frequently aggregated into a representative (agent’s) utility function. We establish regularity and inversion properties of such representative utility functions.
| Titolo: | Multivariable Utility Functions |
| Autori: | |
| Data di pubblicazione: | 2008 |
| Rivista: | |
| Abstract: | Utility functions of several variables are ubiquitous in economics. Their maximization requires inversion of the gradient map. Using convex analysis tools, we provide a representation of an extension of this inverse that accounts for possible constraints. To solve economic equilibrium problems, the utility functions of the agents are frequently aggregated into a representative (agent’s) utility function. We establish regularity and inversion properties of such representative utility functions. |
| Handle: | http://hdl.handle.net/11587/431344 |
| Appare nelle tipologie: | Articolo pubblicato su Rivista |
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