A note on the endogeneity of the price of utility within the consumer’s static profit function

Autor:	Robert Sproule
Rok vydání:	2010
Předmět:	TheoryofComputation_MISCELLANEOUS Microeconomics Economics and Econometrics Bellman equation Isoelastic utility Economics Endogeneity General Business Management and Accounting Profit (economics) Public finance Indifference curve
Zdroj:	Journal of Economics. 101:185-191
ISSN:	0931-8658
DOI:	10.1007/s00712-010-0143-2
Popis:	Currently, the consumer’s price of utility, which is integral to the consumer’s or Frischian static profit function, is viewed as exogenous to the profit-maximization decision. The present note challenges this perspective by demonstrating that if the consumer is a profit maximizer, then the consumer’s price of utility is endogenous to the decision-making process.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::2efa623021c465f2320a7f7da4694f29 https://doi.org/10.1007/s00712-010-0143-2 Zobrazit plný text záznamu Plný text ve formátu PDF