Which rationing rule does a single consumer follow?


Autoria(s): Tasnádi, Attila
Contribuinte(s)

Blahó, András

Data(s)

1998

Resumo

We will investigate the amount of residual demand in a market consisting of only one consumer and two producers. Since there is only one consumer, we cannot really speak about a rationing rule, but we can ask ourselves whether a known rationing rule reflects the consumer’s utility maximizing behavior. We will show that, if the consumer has a Cobb-Douglas utility function, then the amount purchased by the consumer from the high-price firm lies between the values determined according to the efficient rationing rule and the random rationing rule. We will show further, that if the consumer has a quasilinear utility function, then in the economically interesting case his residual demand function will be equal to the residual demand function under efficient rationing.

Formato

application/pdf

Identificador

http://unipub.lib.uni-corvinus.hu/297/1/Tasnadi_BUES_PhD_Conference_1998.pdf

Tasnádi, Attila (1998) Which rationing rule does a single consumer follow? In: The future in the present - changing society, new scientific issues : Papers presented at the Ph.D. students' first international conference. BKE Posztgraduális Kar , Budapest, pp. 187-200. .

Publicador

BKE Posztgraduális Kar

Relação

http://unipub.lib.uni-corvinus.hu/297/

Palavras-Chave #Mathematics, Econometrics
Tipo

Book Section

PeerReviewed

Idioma(s)

en

en