Prices in the utility function and demand monotonicity

Prices in the Utility Function and Demand Monotonicity

We analyze utility functions when they depend both on the quantity of the goods consumed by the agent and on the prices of the goods. This approach allows us to model price e¤ects on agents’ preferences (e.g. the so-called Veblen e¤ect and the Patinkin formulation). We provide su‰cient conditions to observe demand monotonicity and substitution among goods. Power utility functions are investigat...

supply and demand security of energy in central asia and the caucasus

امنیت انرژی به معنی عرضه مداوم و پایدار همراه با قیمت های معقول در حامل های انرژی، که تهدیدات امنیتی، سیاسی، اقتصادی، محیط زیستی و روانی را کاهش دهد. امروزه نفت و گاز تنها، کالای تجاری نیست بلکه بعنوان ابزار سیاسی مورد استفاده قرار می گیرد.اختلاف میان روسیه و اکراین بر سر انرژی در ژانویه 2006، تهدیدی برای امنیت انرژی اروپا ایجاد کرد. در این تحقیق ما تلاش کردیم که نقش انرژی آسیای میانه و قفقاز ر...

Dynamic Competitive Supply Chain Network Design with Price Dependent Demand and Huff Utility Function

This paper develops a two-stage model to consider a franchise/franchisee environment in which supply chains are simultaneously entering the untapped market to produce either identical or highly substitutable products and give franchise to franchisees. Customer demand is elastic, price dependent and customer utility function is based on Huff gravity rule model. The supply chains, in the first st...

Monotonicity of Prices in Heston Model

Excess demand function around critical prices in incomplete markets

We show that the aggregate excess demand function in an economy with incomplete real asset markets can be characterized by Walras’ law, homogeneity, and continuity around critical prices that cause one-dimensional drop of the dimension of the budget set. © 2009 Elsevier B.V. All rights reserved.