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A tractable alternative to Cobb-Douglas utility for imperfect competition

journal contribution
posted on 2001-03-01, 00:00 authored by Xiangkang YinXiangkang Yin
This paper proposes a tractable alternative to Cobb‐Douglas utility to resolve the problems of lack of reservation price and income effects in demand functions derived from Cobb‐Douglas utility or quasilinear utility. Another advantage of this althernative is that it provides a closed‐form general equilibrium in the case where some industries are monopoly while others are imperfectly competitive.

History

Journal

Australian economic papers

Volume

40

Pagination

14-21

Location

Chichester, Eng.

ISSN

0004-900X

eISSN

1467-8454

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal

Copyright notice

2001, Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Issue

1

Publisher

John Wiley & Sons

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