A Tractable Alternative to Cobb-Douglas Utility for Imperfect Competition

Posted: 7 Dec 2000

See all articles by Xiangkang Yin

Xiangkang Yin

Deakin University; Financial Research Network (FIRN)

Abstract

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 alternative is that it provides a closed-form general equilibrium in the case where some industries are monopoly while others are imperfectly competitive.

JEL Classification: B41, D11, E21

Suggested Citation

Yin, Xiangkang, A Tractable Alternative to Cobb-Douglas Utility for Imperfect Competition. Available at SSRN: https://ssrn.com/abstract=249074

Xiangkang Yin (Contact Author)

Deakin University ( email )

Melbourne, Victoria
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

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