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The bearing of duality on microeconomics

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Advances in Mathematical Economics

Part of the book series: Advances in Mathematical Economics ((MATHECON,volume 7))

Abstract

We present some observations about links between some classical theories of microeconomics and dualities which have been used in optimization theory and in the study of first-order Hamilton-Jacobi equations. We introduce a variant of the classical indirect utility function called the wary indirect utility function and a variant of the expenditure function. We focus the attention on the links between these functions, observing that they have better relationships with the direct functions than their classical forms and we give economic interpretations of them.

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Authors and Affiliations

  1. Faculté des Sciences, Mathématiques, CNRS UMR 5142, Universitéde Pau, BP 1155, 64013, PAU, France

    Jean-Paul Penot

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  1. Jean-Paul Penot
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  1. Graduate School of Mathematical Sciences, University of Tokyo, 3-8-1 Komaba, Meguro-ku, Tokyo, 153-0041, Japan

    Shigeo Kusuoka (Professor) (Professor)

  2. Graduate Faculty of Economics, Hitotsubashi University, Kunitachi, Tokyo, 186-8601, Japan

    Akira Yamazaki (Professor) (Professor)

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Dedicated to the memory of Philippe Michel

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Penot, JP. (2005). The bearing of duality on microeconomics. In: Kusuoka, S., Yamazaki, A. (eds) Advances in Mathematical Economics. Advances in Mathematical Economics, vol 7. Springer, Tokyo. https://doi.org/10.1007/4-431-27233-X_5

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