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- Homothetic_preferences abstract "In economics, a consumer is said to have homothetic preferences when its preferences can be represented by a homothetic utility function. Both homogeneous and homothetic preferences are common functional forms used to represent consumer preferences when analyzing the demand for consumption of various goods and services. A homothetic function is a monotonic transformation of a function which is homogeneous of degree 1. However, since ordinal utility functions are only defined up to a monotonic transformation, there is little distinction between the two concepts in practice. In a model where competitive consumers optimize homothetic utility functions subject to a budget constraint, the ratios of goods demanded by consumers will depend only on relative prices, not on income or scale.".
- Homothetic_preferences wikiPageID "27198815".
- Homothetic_preferences wikiPageRevisionID "588796421".
- Homothetic_preferences hasPhotoCollection Homothetic_preferences.
- Homothetic_preferences subject Category:Decision_theory.
- Homothetic_preferences subject Category:Utility.
- Homothetic_preferences comment "In economics, a consumer is said to have homothetic preferences when its preferences can be represented by a homothetic utility function. Both homogeneous and homothetic preferences are common functional forms used to represent consumer preferences when analyzing the demand for consumption of various goods and services. A homothetic function is a monotonic transformation of a function which is homogeneous of degree 1.".
- Homothetic_preferences label "Homothetic preferences".
- Homothetic_preferences sameAs m.0bwh_gm.
- Homothetic_preferences sameAs Q5891796.
- Homothetic_preferences sameAs Q5891796.
- Homothetic_preferences wasDerivedFrom Homothetic_preferences?oldid=588796421.
- Homothetic_preferences isPrimaryTopicOf Homothetic_preferences.