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Article
Publication date: 1 February 1985

VINCY FON, BRYAN L. BOULIER and ROBERT S. GOLDFARB

Many texts display circular indifference curves. The rationale for such curves typically requires that goods become bads — that is, their marginal utilities become negative — over…

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Abstract

Many texts display circular indifference curves. The rationale for such curves typically requires that goods become bads — that is, their marginal utilities become negative — over some range (e.g., Baumol [1], p. 199). In this note we develop what seems to be a far more general and intuitively appealing rationale for “approximately circular” indifference curves. This rationale suggests that the phenomenon may be far more widespread than previous analysis implies.

Details

Studies in Economics and Finance, vol. 9 no. 2
Type: Research Article
ISSN: 1086-7376

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