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Working Papers, Economics Department, UC Santa Cruz >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/64545
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Friedman, Daniel | | en_US |
| dc.contributor.author | | Sákovics, József | | en_US |
| dc.date.accessioned | | 2011-07-22 | | en_US |
| dc.date.accessioned | | 2012-09-28T12:42:03Z | | - |
| dc.date.available | | 2012-09-28T12:42:03Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/64545 | | - |
| dc.description.abstract | | We reformulate neoclassical consumer choice by focusing on [lambda], the marginal utility of money. As the opportunity cost of current expenditure, [lambda] is approximated by the slope of the indirect utility function of the continuation. We argue that [lambda] can largely supplant the role of an arbitrary budget constraint in partial equilibrium analysis. The result is a better grounded, more exible and more intuitive approach to consumer choice. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Univ. of California at Santa Cruz, Dep. of Economics Santa Cruz, Calif. | | en_US |
| dc.relation.ispartofseries | | Working Papers, UC Santa Cruz Economics Department 684 | | en_US |
| dc.subject.jel | | D01 | | en_US |
| dc.subject.jel | | D03 | | en_US |
| dc.subject.jel | | D11 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | budget constraint | | en_US |
| dc.subject.keyword | | separability | | en_US |
| dc.subject.keyword | | value for money | | en_US |
| dc.title | | The marginal utility of money: A modern Marshallian approach to consumer choice | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 664664938 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Working Papers, Economics Department, UC Santa Cruz
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