Fractional demand systems are utility derived demands having quantities or budget shares proportional to ag + bf, where g and f are functions of income and a and b vary across goods and are functions ...

This article obtains demand functions for risky assets without making a priori assumptions about the form of the utility function. In a simple portfolio model, the envelope theorem is applied to the ...

1. An indifference curve is defined as a set of bundles that a consumer with a given income can afford, and among which she or he is indifferent. 2. More is preferred to less means that if the total ...