Article
A New Expenditure Function
Economics Letters
(1979)
Abstract
The usual expenditure function exploits the duality of expenditure and direct utility: a new expenditure function is proposed which exploits the duality of expenditure and indirect utility The derivative of the new expenditure function is the inverse demand or willingness-to-pay. The new expenditure function offers the easiest way to value quantity changes.
Disciplines
Publication Date
June, 1979
Citation Information
Robert D. Cooter. "A New Expenditure Function" Economics Letters Vol. 2 (1979) p. 103 Available at: http://works.bepress.com/robert_cooter/125/