In economics, a unit demand agent is an agent who wants to buy a single item, which may be of one of different types. A typical example is a buyer who needs a new car. There are many different types of cars, but usually a buyer will choose only one of them, based on the quality and the price. If there are m different item-types, then a unit-demand valuation function is typically represented by m values , with representing the subjective value that the agent derives from item . If the agent receives a set of items, then his total utility is given by:

Property Value
dbo:abstract
  • In economics, a unit demand agent is an agent who wants to buy a single item, which may be of one of different types. A typical example is a buyer who needs a new car. There are many different types of cars, but usually a buyer will choose only one of them, based on the quality and the price. If there are m different item-types, then a unit-demand valuation function is typically represented by m values , with representing the subjective value that the agent derives from item . If the agent receives a set of items, then his total utility is given by: since he enjoys the most valuable item from and ignores the rest. Therefore, if the price of item is , then a unit-demand buyer will typically want to buy a single item – the item for which the net utility is maximized. (en)
dbo:wikiPageEditLink
dbo:wikiPageExtracted
  • 2019-12-14 03:05:32Z (xsd:date)
dbo:wikiPageHistoryLink
dbo:wikiPageID
  • 51339474 (xsd:integer)
dbo:wikiPageLength
  • 2072 (xsd:integer)
dbo:wikiPageModified
  • 2019-12-14 03:05:27Z (xsd:date)
dbo:wikiPageOutDegree
  • 6 (xsd:integer)
dbo:wikiPageRevisionID
  • 930672545 (xsd:integer)
dbo:wikiPageRevisionLink
dbp:wikiPageUsesTemplate
dct:subject
rdfs:comment
  • In economics, a unit demand agent is an agent who wants to buy a single item, which may be of one of different types. A typical example is a buyer who needs a new car. There are many different types of cars, but usually a buyer will choose only one of them, based on the quality and the price. If there are m different item-types, then a unit-demand valuation function is typically represented by m values , with representing the subjective value that the agent derives from item . If the agent receives a set of items, then his total utility is given by: (en)
rdfs:label
  • Unit demand (en)
foaf:isPrimaryTopicOf
owl:sameAs
is foaf:primaryTopic of