Codice  QDD 81 
Titolo  Prices in the utility function and demand monotonicity 
Data  20101120 
Autore/i  Barucci, E.; Gazzola, F. 
Link  Download full text 
Abstract  We analyze utility functions when they depend both on the quantity of the goods consumed by the agent and on the prices of the goods. This approach allows us to model price effects on agentsâ€™ preferences (e.g. the socalled Veblen effect and the Patinkin formulation). We provide sufficient conditions to observe demand monotonicity and substitution among goods. Power utility functions are investigated: we provide examples of price dependent utility functions that cannot be written as an increasing transformation of a classical utility function dependent only upon quantities. 
