About: Indirect utility function

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In economics, a consumer's indirect utility function gives the consumer's maximal attainable utility when faced with a vector of goods prices and an amount of income . It reflects both the consumer's preferences and market conditions. The indirect utility function is: Moreover, Roy's identity states that if v(p,w) is differentiable at and , then

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rdfs:label	Indirect utility function (en)
rdfs:comment	In economics, a consumer's indirect utility function gives the consumer's maximal attainable utility when faced with a vector of goods prices and an amount of income . It reflects both the consumer's preferences and market conditions. The indirect utility function is: Moreover, Roy's identity states that if v(p,w) is differentiable at and , then (en)
sameAs	Indirect utility function
dbp:wikiPageUsesTemplate	dbt:Cite_book dbt:More_citations_needed dbt:Reflist dbt:Rp dbt:Microeconomics
Subject	Utility function types
prov:wasDerivedFrom	http://en.wikipedia.org/wiki/Indirect_utility_function?oldid=1067152468&ns=0
Wikipage page ID	1998025 (xsd:integer)
page length (characters) of wiki page	4985 (xsd:nonNegativeInteger)
Wikipage revision ID	1067152468 (xsd:integer)
Link from a Wikipage to another Wikipage	Quasiconvex function Roy's identity Economics Hicksian demand function Homogeneous function Gorman polar form World Bank high-income economy Expenditure function Utility Utility maximization problem Value function Utility function types
has abstract	In economics, a consumer's indirect utility function gives the consumer's maximal attainable utility when faced with a vector of goods prices and an amount of income . 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 can be computed from his or her utility function defined over vectors of quantities of consumable goods, by first computing the most preferred affordable bundle, represented by the vector by solving the utility maximization problem, and second, computing the utility the consumer derives from that bundle. The resulting indirect utility function is The indirect utility function is: * Continuous on Rn+ × R+ where n is the number of goods; * Decreasing in prices; * Strictly increasing in income; * Homogenous with degree zero in prices and income; if prices and income are all multiplied by a given constant the same bundle of consumption represents a maximum, so optimal utility does not change; * quasi-convex in (p,w). Moreover, Roy's identity states that if v(p,w) is differentiable at and , then (en)
foaf:isPrimaryTopicOf	http://en.wikipedia.org/wiki/Indirect_utility_function
is Wikipage redirect of	Indirect utility
is Link from a Wikipage to another Wikipage of	Local nonsatiation Dixit–Stiglitz model Cobb–Douglas production function Constant elasticity of substitution Cost-of-living index Hicksian demand function Homothetic preferences Equivalent variation Gorman polar form Expenditure function Maximum theorem Indirect utility
is foaf:primaryTopic of	http://en.wikipedia.org/wiki/Indirect_utility_function

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