Learn Before
Using Alternative Utility Functions to Model Different Preferences
Cobb-Douglas Utility Function
The Cobb-Douglas utility function is a specific mathematical form that can be used to represent an individual's preferences, for example as an alternative utility function for Karim. It is given by the formula , where the exponents and are positive constants. This function is noted for having convenient mathematical properties, making it common in economic analysis. It is named after the two people who introduced the function to the field of economics.
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CORE Econ
Economics
Social Science
Empirical Science
Science
Economy
Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Related
Cobb-Douglas Utility Function
Utility Function of Karim's Friend
Utility Function of Angela's Friend (u(t, c) = c + 75 ln(t))
Learn After
Simplifying the Marginal Utility of Free Time for a Cobb-Douglas Function
Positive Parameters in Cobb-Douglas Function and Positive Marginal Utility
Hypothetical Cobb-Douglas Utility Function for Karim ()
Yvonne's Hypothetical Utility Function