|
|
Demand function |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Demand functionThe mathematical function explaining the quantity demanded in terms of its various determinants, including income and price; thus the algebraic representation of the demand curve.Similar MatchesConstant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Bergsonian social welfare functionBergsonian social welfare functionA social welfare function that takes as arguments only the levels of utility of the individuals in society. Due to Bergson (1938) as interpreted by Samuelson (1981). Also called a Bergson-Samuelson social welfare function. Dixit-Stiglitz functionDixit-Stiglitz functionReally just a symmetric CES function, the innovation of Dixit and Stiglitz (1977) was to allow the number of arguments to be variable. Used originally as a utility function, with elasticity of substitution greater than one the function displays a preference for variety. Used as a component of a production function, the same property implies that costs fall with variety. Utility functionUtility functionA function that specifies the utility (well being) of a consumer for all combinations goods consumed (and sometimes other considerations). Represents both their welfare and their preferences. Utility functionUtility functionA mathematical expression that assigns a value to all possible choices. In portfolio theory, the utility function expresses the preferences of economic entities with respect to perceived risk and expected return. Further SuggestionsTeams Cross FunctionalProbability function Neoclassical production function Multifunctionality SMAC function Social welfare function Teams Functional CES Function Homogeneous function Conservative Social Welfare Function Production function Probability density function Essential purpose (or function) bond Translog function Cobb-Douglas function Supply function Reaction function Cost function Functional distribution of income |
|
|
|