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On the differentiability of the benefit function

Author

Listed:
  • Bertrand Crettez

    (Université de Franche-Comté)

  • Naila Hayek

    (Université de Franche-Comté)

  • Jean-Michel Courtault

    (Université de Franche-Comté)

Abstract

The benefit function, introduced by Luenberger, provides a tool for well-defined cardinal comparisons of different bundles of goods. It also allows to study in an orignal way optimal consumers and firms choices, Pareto-optimality etc... In this note we prove that the benefit function is differentiable under standard conditions. This property is useful in order to study optimal choices.

Suggested Citation

  • Bertrand Crettez & Naila Hayek & Jean-Michel Courtault, 2004. "On the differentiability of the benefit function," Economics Bulletin, AccessEcon, vol. 4(5), pages 1-6.
    • Handle: RePEc:ebl:ecbull:eb-04d00001
    as

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    References listed on IDEAS

    as
    1. Lionel W. McKenzie, 2005. "Classical General Equilibrium Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633302, April.
    2. McKenzie, Lionel W., 2005. "Optimal economic growth, turnpike theorems and comparative dynamics," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 2, volume 3, chapter 26, pages 1281-1355, Elsevier.
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    Cited by:

    1. Chavas, Jean-Paul, 2013. "On Demand Analysis and Dynamics: A Benefit Function Approach," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149683, Agricultural and Applied Economics Association.
    2. Jean-Paul Chavas & Michele Baggio, 2010. "On duality and the benefit function," Journal of Economics, Springer, vol. 99(2), pages 173-184, March.
    3. Mauricio Benegas & Emerson Marinho, 2008. "Duality, Net Supply, and The Directional Distance Function," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807211656140, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    4. Jean-Michel Courtault & Bertrand Crettez & Naïla Hayek, 2008. "Complementarity and Substitutability: A Dual Approach Based on Luenberger's Benefit Function," Working Papers halshs-00447417, HAL.

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    More about this item

    Keywords

    Benefit function;

    JEL classification:

    • D0 - Microeconomics - - General
    • D6 - Microeconomics - - Welfare Economics

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