Indirect utility function
id:
indirect-utility-function-267-13041879
title:
Indirect utility function
text:
In economics, a consumer's indirect utility function v ( p , w ) gives the consumer's maximal attainable utility when faced with a vector p of goods prices and an amount of income w . It reflects both the consumer's preferences and market conditions. This function is called indirect because consumers usually think about their preferences in terms of what they consume rather than prices. A consumer's indirect utility v ( p , w ) can be computed from his or her utility function u ( x ) , defined o
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encyclopedia
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original url:
https://en.wikipedia.org/wiki/Indirect_utility_function
date created:
date modified:
2023-08-01T12:06:34Z
main entity:
{"identifier":"Q1573178","url":"https://www.wikidata.org/entity/Q1573178"}
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