DocumentCode
812531
Title
Functional form for utility, demand systems, and the aggregate consumption function
Author
Lluch, Constantino
Author_Institution
International Bank for Recontruction and Development, NW, Washington DC-USA
Volume
18
Issue
4
fYear
1973
fDate
8/1/1973 12:00:00 AM
Firstpage
385
Lastpage
387
Abstract
Alternative utility specifications are imbedded in a simple calculus of variations problem to obtain complete sets of demand equations and their associated aggregate consumption function. In three cases, the resulting consumption functions are linear in prices and income with no intercept. For parameter identification, empirical work should be based upon the underlying demand systems.
Keywords
Economics; Utility theory; Aggregates; Automatic control; Calculus; Costs; Equations; History; Notice of Violation; Optimal control; Physics computing;
fLanguage
English
Journal_Title
Automatic Control, IEEE Transactions on
Publisher
ieee
ISSN
0018-9286
Type
jour
DOI
10.1109/TAC.1973.1100353
Filename
1100353
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