| 单词 | separable utility function |
| 释义 | separable utility function A utility function where the size of one argument does not affect the result of changing another. For example, suppose that utility, U, is a function of consumption of two goods, x and y. In a separable utility function this can be split into two separate parts: U(x, y) = f(x) + g(y). Thus the marginal utility of x is independent of y, and the marginal utility of y is independent of x: this can be written as Uxy = 0. The same applies if utility is an increasing function of consumption, c, and a decreasing function of z, work done. If such a function is separable it can be written U(c, z) = f(c) - g(z), so that Ucz = 0. Separable utility functions are very convenient in constructing mathematical models, but very implausible as models of human behaviour. |
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