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单词 Homothetic preferences
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Homothetic preferences

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Homothetic preferences

In consumer theory, a consumer's preferences are called homothetic if they can be represented by a utility function which is homogeneous of degree 1. For example, in an economy with two goods x,y, homothetic preferences can be represented by an utility function u that has the following property: for every a>0:

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更新时间:2025/6/20 0:12:29