American Economist, March 22nd, 1996
A class of utility functions that generates demand functions that are linear in prices, although not in income, is derived. Such linear demand functions form part of the tools necessary for the analysis of complicated economic models. At the same time, they are quite useful in demonstrating to beginning students of economics the properties of demand. Their usefulness does not end with theoretical models but extends to empirical data as well.
I. Introduction
Linear demand functions are often used in the economic literature as a convenient form for deriving important properties of complex econ...
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