5 Answered Questions for the topic consumer theory

Consumer Theory Microeconomics Utility

04/16/19

The relationship between the expenditure function and many others!?

I dont understand the relationships between Hicksian demand, walrasian demand (marshallian), the expenditure function and the indirect utility function (including the value function V(b)). I have... more
Consumer Theory Microeconomics

04/04/19

Differences between Hicksian and Slutskian approaches?

When deriving the substitution effect for both Slutskian and Hicksian definitions, a 'phantom' budget line is drawn.However, for a Slutskian definition, the 'phantom' budget line is drawn parallel... more
Consumer Theory Microeconomics Utility

04/01/19

Is it possible to derive indifference curves given marshallian demand function?

In a two good world, will a marshallian demand function the likes of `D(p,m)` where p is the price of one good and m the income yield a utility function or indifference curve function? If so, how... more

04/01/19

What are Giffen Goods?

What exactly are Giffen goods and are they of purely theoretical interest or has there been empirical evidence of their existence?

03/19/19

Which utility function yields a constant price elasticity of demand function?

How do I know which utility function I can use to find an isoelastic demand function. And similarly, which cost function can I use to find an isoelastic supply function?Does it work through trial... more

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