Reference 〉Class

CobbDouglas( list[str]|dict{str:num} goods )

Defines a Cobb Douglas utility function U=∏n(gnαn). The Cobb Douglas utility function is equivalent to a CES utility function where the elasticity of substitution is equal to 1. This class is a subclass of CES, itself a subclass of Utility, so it inherits the methods of those classes (calculate, demand, mu, and mrs), which will not be listed here.

Initialization Parameters

  • goods list[str]|dict{str:num}, required

    Either a list of goods, in which case all exponents will be set to 1/len(goods), or a dict where the keys are the goods and the values are the corresponding exponents (the αns in the formula above). The list may, but does not have to, correspond to the goods registered in model.addGood().

Notes and Examples

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