utility function
81Constant elasticity of substitution — In economics, Constant elasticity of substitution (CES) is a property of some production functions and utility functions. More precisely, it refers to a particular type of aggregator function which combines two or more types of consumption, or… …
82Classical general equilibrium model — The classical general equilibrium model aims to describe the economy by aggregating the behavior of individuals and firms. Note that the classical general equilibrium model is unrelated to classical economics, and was instead developed within… …
83Roy's identity — (named for French economist Rene Roy) is a major result in microeconomics having applications in consumer choice and the theory of the firm. The lemma relates the ordinary demand function to the derivatives of the indirect utility function.… …
84probability theory — Math., Statistics. the theory of analyzing and making statements concerning the probability of the occurrence of uncertain events. Cf. probability (def. 4). [1830 40] * * * Branch of mathematics that deals with analysis of random events.… …
85Continuous game — A continuous game is a mathematical generalization, used in game theory. It extends the notion of a discrete game, where the players choose from a finite set of pure strategies. The continuous game concepts allows games to include more general… …
86Real estate economics — is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand. The closely related fields of housing economics is narrower in scope, concentrating on… …
87Austrian School — Part of a series on Libertarianism Austrian School …
88Consumer choice — Economics …
89Labour economics — seeks to understand the functioning of the market and dynamics for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders of labour… …
90consumption — /keuhn sump sheuhn/, n. 1. the act of consuming, as by use, decay, or destruction. 2. the amount consumed: the high consumption of gasoline. 3. Econ. the using up of goods and services having an exchangeable value. 4. Pathol. a. Older Use.… …
