scholarly journals Convex-concave utility function: Optimal blood-consumption for vampires

1983 ◽  
Vol 7 (2) ◽  
pp. 83-88 ◽  
Author(s):  
Richard F. Hartl ◽  
Alexander Mehlmann
Keyword(s):  
Utility Function ◽  
Concave Utility Function

WHY IS OPTIMAL GROWTH THEORY MUTE? RESTORING ITS RIGHTFUL VOICE

2018 ◽  
Vol 22 (1) ◽  
pp. 77-100
Author(s):  
Olivier de La Grandville
Keyword(s):  
Utility Function ◽  
Technical Progress ◽  
Competitive Equilibrium ◽  
Traditional Approach ◽  
Optimal Growth ◽  
Growth Theory ◽  
Reasonable Time ◽  
Future Evolution ◽  
Concave Utility Function ◽  
Central Economic

Optimal growth theory as it stands today does not work. Using strictly concave utility functions systematically inflicts on the economy distortions that are either historically unobserved or unacceptable by society. Moreover, we show that the traditional approach is incompatible with competitive equilibrium: Any economy initially in such equilibrium will always veer away into unwanted trajectories if its investment is planned using a concave utility function. We then propose a rule for the optimal savings-investment rate based on competitive equilibrium that simultaneously generates three intertemporal optima for society. The rule always leads to reasonable time paths for all central economic variables, even under very different hypotheses about the future evolution of population and technical progress.

scholarly journals A First-Price Sealed-Bid Asymmetric Auction When Two Bidders Have Respective CRRA and General Utility Functions

2021 ◽  
Vol 2021 ◽  
pp. 1-15
Author(s):  
Mingming Gong ◽  
Shulin Liu
Keyword(s):  
Risk Aversion ◽  
Utility Function ◽  
Existence And Uniqueness ◽  
Allocative Efficiency ◽  
Relative Risk Aversion ◽  
General Utility ◽  
Sealed Bid ◽  
Concave Utility Function ◽  
Asymmetric Auction ◽  
Price Auction

We study a first-price auction with two bidders where one bidder is characterized by a constant relative risk aversion utility function (i.e., a concave power function) while the other has a general concave utility function. We establish the existence and uniqueness of the optimal strategic markups and analyze the effects of one bidder’s risk aversion level on the optimal strategic markups of him and his opponent’s, the allocative efficiency of the auction, and the seller’s expected revenue, respectively.

Analisa Pemilihan Moda Transportasi Umum Rute Tanjung Karang – Bandara Radin Inten II Dengan Stated Preference dan Uji Crame’s V

2018 ◽  
Vol 2 (2) ◽  
pp. 137
Author(s):  
Muhammad Abi Berkah Nadi
Keyword(s):  
Regression Analysis ◽  
Utility Function ◽  
Stated Preference ◽  
Technical Analysis ◽  
Chi Square ◽  
Time Headway ◽  
Independent Variable ◽  
The Relationship ◽  
Selection Of

Radin Inten II Airport is a national flight in Lampung Province. In this study using the technical analysis stated preference which is the approach by conveying the choice statement in the form of hypotheses to be assessed by the respondent. By using these techniques the researcher can fully control the hypothesized factors. To determine utility function for model forecasting in fulfilling request of traveler is used regression analysis with SPSS program. The analysis results obtained that the passengers of the dominant airport in the selection of modes of cost attributes than on other attributes. From the result of regression analysis, the influence of independent variable to the highest dependent variable is when the five attributes are used together with the R square value of 8.8%. The relationship between cost, time, headway, time acces and service with the selection of modes, the provision that states whether or not there is a decision. The significance of α = 0.05 with chi-square. And the result of Crame's V test average of 0.298 is around the middle, then the relationship is moderate enough.

scholarly journals On the Microfoundation of Linear Oligopoly Demand

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Iwan Bos ◽  
Dries Vermeulen
Keyword(s):  
Utility Function ◽  
Aggregate Demand ◽  
Demand System ◽  
Representative Consumer ◽  
Aggregate Utility

AbstractWe critically assess the representative consumer with quadratic aggregate utility function which forms the foundation of a well-known class of linear oligopoly demand structures. It is argued that this approach is problematic and redundant. Regarding the latter, we show how the same demand system can be derived directly from a population of heterogeneous buyers for any number of products. Welfare analyses based on aggregate demand is shown to be sensitive to the underlying microfoundation.

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