The Application of Lagrange Multipliers in Consumer Choice Theory
This article deals with the consumer choice theory developed by Irving Fisher, Francis Edgeworth, Vilfredo Pareto, and John Hicks. A three-dimensional utility function is presented as an alternative to indifference curves. In mainstream textbooks, the indifference curves together with the budget con...
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| Format: | Article |
| Language: | English |
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University of Finance and Administration
2022-07-01
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| Series: | ACTA VŠFS |
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| Online Access: | https://www.vsfs.cz/periodika/acta-2022-1-04.pdf |