A tractable alternative to Cobb-Douglas utility for imperfect competition
AbstractThis 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by School of Economics, La Trobe University in its series Working Papers with number 2000.10.
Length: 16 pages
Date of creation: 2000
Date of revision:
Utility Function; Reservation Price; Income Effect; Monopoly; Oligopoly EDIRC Provider-Institution: RePEc:edi:smlatau;
Other versions of this item:
- Yin, Xiangkang, 2001. "A Tractable Alternative to Cobb-Douglas Utility for Imperfect Competition," Australian Economic Papers, Wiley Blackwell, vol. 40(1), pages 14-21, March.
- Xiangkang Yin, 2000. "A tractable alternative to Cobb-Douglas utility for imperfect competition," Working Papers 2000.10, School of Economics, La Trobe University.
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Christina M. L. Kelton & Robert P. Rebelein, 2007.
"A General-Equilibrium Analysis of Public Policy for Pharmaceutical Prices,"
Journal of Public Economic Theory,
Association for Public Economic Theory, vol. 9(2), pages 285-318, 04.
- Kelton, Christina M.L. & Rebelein, Robert P., 2005. "A General-Equilibrium Analysis of Public Policy for Pharmaceutical Prices," Vassar College Department of Economics Working Paper Series 78, Vassar College Department of Economics.
- Clemens Fuest & Martin Kolmar, 2013. "Endogenous free riding and the decentralized user-fee financing of spillover goods in a n-region economy," International Tax and Public Finance, Springer, vol. 20(2), pages 169-191, April.
- Kris De Jaegher, 2008.
"Benchmark Two-Good Utility Functions,"
University of Manchester, vol. 76(1), pages 44-65, 01.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephen Scoglio).
If references are entirely missing, you can add them using this form.