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Utility and Demand

In: Symmetry and Economic Invariance

Author

Listed:
  • Ryuzo Sato

    (New York University)

  • Rama V. Ramachandran

    (Pebble Brook Lane)

Abstract

Microeconomic theory recognizes that the allocation of resources in economy is driven forces of demand and supply. Supply is determined by technology and the cost of inputs. In previous chapters, we discussed how group theoretic method allows us to examine the effects of technological change on supply. In this chapter, we look how the traditional results of demand theory can be reinterpreted using group theoretic methods.

Suggested Citation

  • Ryuzo Sato & Rama V. Ramachandran, 2014. "Utility and Demand," Advances in Japanese Business and Economics, in: Symmetry and Economic Invariance, edition 2, chapter 0, pages 43-53, Springer.
    • Handle: RePEc:spr:advchp:978-4-431-54430-2_4
    DOI: 10.1007/978-4-431-54430-2_4
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