2 Answered Questions for the topic preferences
Are homothetic preferences monotonic?
I'm trying to understand intuitively what a homothetic preference is, and I am still not quite there. I understand the definition, that a homothetic preference implies that the slope of the... more
Selecting the best utility function for households?
I have little to no background in micro, but I'm learning about utility functions. It seems that there are many forms of utility functions for households. In general terms, how does one go on to... more