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Identities For Homogeneous Utility Functions

Author

Listed:
  • Miguel A. Espinosa
  • Juan D. Prada-Sarmiento

Abstract

Using a homogeneous and continuous utility function that represents a household's preferences, this paper proves explicit identities between most of the different objects that arise from the utility maximization and the expenditure minimization problems. The paper also outlines the homogeneity properties of each object. Finally, we show explicit algebraic ways to go from the indirect utility function to the expenditure function and from the Marshallian demand to the Hicksian demand and vice versa, without the need of any other function, thus simplifying the integrability problem avoiding the use of differential equations.

Suggested Citation

  • Miguel A. Espinosa & Juan D. Prada-Sarmiento, 2010. "Identities For Homogeneous Utility Functions," Documentos CEDE 7611, Universidad de los Andes, Facultad de Economía, CEDE.
    • Handle: RePEc:col:000089:007611
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    Cited by:

    1. is not listed on IDEAS
    2. Hjertstrand, Per, 2025. "The marginal utility of income and homogeneous demand systems," Journal of Economic Behavior & Organization, Elsevier, vol. 229(C).
    3. Daniel H. Karney & Khyati Malik, 2024. "New Compensating and Equivalent Variation Closed-form Solutions for Non-Separable Public Goods," Papers 2401.15493, arXiv.org, revised Jan 2026.

    More about this item

    Keywords

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    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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