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Simple Utility Functions with Giffen Demand

✍ Scribed by Peter N. Sørensen

Publisher: Springer
Year: 2006
Tongue: English
Weight: 109 KB
Volume: 31
Category: Article
ISSN: 0938-2259
DOI: 10.1007/s00199-006-0086-6

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## Abstract The construction of a multiattribute utility function is significantly simplified if it is possible to decompose the function into lower‐order utility assessments. When every attribute is utility independent of its complement, we have a powerful property that reduces the functional form