Home > Term: quasi-linear utility
quasi-linear utility
A utility function of the form U(x0,x1,. . . ,xn) = x0 + iui(xi), where ui() are strictly concave functions. This is useful for generating demand functions for goods xi that depend only on their own prices in terms of the numeraire x0.
- Part of Speech: noun
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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Creator
- Noroc
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