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Intertemporal benefit functions
Affiliation:1. Department of Economics, Monash University, Australia;2. Department of Economics, University of Melbourne, Australia;3. Department of Economics, University of Cambridge, United Kingdom;1. Deakin Business School, Department of Economics, Burwood Campus, 221 Burwood Hwy, Burwood, 3125 VIC, Australia;2. Monash Business School, Department of Economics, Clayton Campus, Wellington Road, Clayton, 3800 VIC, Australia;1. Sheffield University Management School, University of Sheffield, Sheffield, UK;2. Science Technology Studies Laboratory, ISSER, Higher School of Economics, Moscow, Russia;1. Department of Mathematics, City University of Hong Kong, Hong Kong, China;2. Yau Mathematical Sciences Center, Tsinghua University, Haidian District, Beijing, 100084, China;3. Beijing Institute of Mathematical Sciences and Applications, Huairou District, Beijing, 101408, China;4. Department of Mathematics and Risk Management Institute, National University of Singapore, Singapore;1. Faculty of Science and Technology, Free University of Bolzano, Piazza Università 5, 39100 Bolzano, Italy;2. Worcester Polytechnic Institute, Robert A. Foisie School of Business, 100 Institute Road, Worcester, MA, 01609, United States
Abstract:A widely used measure of benefit is the integral of ordinary uncompensated demand functions. We extend these benefit functions to include intertemporal price or demand elasticities and show the restrictions which this imposes on the demand functions. Examples are given for particular functional forms.
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