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Unpublished Paper
Homogeneous Utility Functions with Non-Separable Public Goods: Implications for Non-Market Valuation
(2018)
  • Daniel H Karney
Abstract
In a utility model with non-separable public goods, this study derives relationships between the degree of homogeneity of the utility function and both the indirect utility and expenditure functions. Implications for non-market valuation are then derived. For example, assuming a general, non-separable homogeneous utility function, the ratio of marginal willingness to pay for pairs of private and public goods is unaffected by the level of public good provision.
Keywords
  • Public goods,
  • Non-market valuation,
  • Consumer theory,
  • Non-separable utility
Disciplines
Publication Date
November, 2018
Comments
with Khyati Malik
Citation Information
Daniel H Karney. "Homogeneous Utility Functions with Non-Separable Public Goods: Implications for Non-Market Valuation" (2018)
Available at: http://works.bepress.com/daniel_karney/12/