Which rationing rule does a single consumer follow?
| 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 |