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 , homothetic preferences can be represented by a utility function that has the following property: for every : In mathematics, a homothetic function is a monotonic transformation of a function which is homogeneous; however, since ordinal utility functions are only defined up to an increasing monotonic transformation, there is a small distinction between the two concepts in consumer theory.
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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 , homothetic preferences can be represented by a utility function that has the following property: for every : In mathematics, a homothetic function is a monotonic transformation of a function which is homogeneous; however, since ordinal utility functions are only defined up to an increasing monotonic transformation, there is a small distinction between the two concepts in consumer theory.
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En teoría del consumidor, las ...... nto de todos los consumidores.
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In consumer theory, a consumer ...... and the same aggregate income.
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W teorii konsumenta preferencj ...... i ten sam zagregowany dochód.
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В экономике гомотетичными пред ...... агрегированы среди индивидов.
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En teoría del consumidor, las ...... función lineal de la riqueza.
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In consumer theory, a consumer ...... o concepts in consumer theory.
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W teorii konsumenta preferencj ...... a jako liniowa funkcja majątku
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В экономике гомотетичными пред ...... и гомотетичной) незначительна.
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Homothetic preferences
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Preferencias homotéticas
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Preferencje homotetyczne
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Гомотетичные предпочтения
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