A homothetic utility function for monopolistic competition models, without constant price elasticity. (Q1853713)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A homothetic utility function for monopolistic competition models, without constant price elasticity. |
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A homothetic utility function for monopolistic competition models, without constant price elasticity. (English)
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22 January 2003
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The symmetric translog expenditure function leads to a demand system that has unitary income elasticity but non-constant price elasticities. This expenditure function will be useful in monopolistic competition models, and retains its properties even as the number of goods varies.
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Monopolistic competition
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Homothetic
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Translog
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New goods
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