Supply function


 

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Supply function

The mathematical function explaining the quantity supplied in terms of its various determinants, including price; thus the algebraic representation of the supply curve.



Similar Matches

Dixit-Stiglitz function

Dixit-Stiglitz function

Really 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 function

Utility function

A 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.


SMAC function

SMAC function

An acronym for the CES function based on the names of the four authors who introduced it in Arrow et al. (1961).


Conservative Social Welfare Function

Conservative Social Welfare Function

A social welfare function that takes special account of the costs to individuals of losing relative to the status quo, and that therefore seeks to avoid large losses to significant groups within the population. Due to Corden (1974).


Homogeneous function

Homogeneous function

A function with the property that multiplying all arguments by a constant changes the value of the function by a monotonic function of that constant: F(lV)=g(l)F(V), where F(·) is the homogeneous function, V is a vector of arguments, l>0 is any constant, and g(·) is some strictly increasing positive function. Special cases include homogeneous of degree X and linearly homogeneous.


Further Suggestions

Bergsonian social welfare function
Neoclassical production function
Utility function
Essential purpose (or function) bond
Constant elasticity of substitution function
Multifunctionality
Probability function
CES Function
Cobb-Douglas function
Production function
Teams Cross Functional
Demand function
Social welfare function
Teams Functional
Probability density function
Reaction function
Cost function
Translog function
Functional distribution of income


 
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