Title of article
Possible convexity of the indirect utility function due to nonlinear budget constraints
Author/Authors
Robert F. Bordley، نويسنده , , Robert F. ، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1995
Pages
7
From page
19
To page
25
Abstract
A concave utility function coupled with a nonlinear budget constraint can lead to a convex indirect utility function given sufficient complementarity between products. Hence, the principle of diminishing marginal returns to income need not hold.
Keywords
Concavity: Budget constraint , Indirect utility , Complementarity , Time-preference
Journal title
Economics Letters
Serial Year
1995
Journal title
Economics Letters
Record number
433956
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