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Abstract

This study invents four types of non-monotonic utility functions that suit the sufficiency economy. With these utility functions, an individual may not get higher utility when consume more goods. Therefore, an individual requires an optimal level of income rather than a maximized level of income to achieve the highest utility.



Item Type: MPRA Paper -

Original Title: Non-monotonic utility functions for microeconomic analysis of sufficiency economy-

English Title: Non-monotonic Utility Functions for Microeconomic Analysis of Sufficiency Economy-

Language: English-

Keywords: sufficiency economy, utility function, microeconomic analysis, consumption, optimality-

Subjects: D - Microeconomics > D1 - Household Behavior and Family Economics > D11 - Consumer Economics: TheoryB - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B59 - OtherQ - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q0 - General > Q01 - Sustainable Development-





Autor: Suriya, Komsan

Fuente: https://mpra.ub.uni-muenchen.de/33783/







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