Gorman polar form: Difference between revisions

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'''Gorman polar form''' is a [[functional form]] for [[indirect utility function]]s in [[economics]]. Imposing this form on [[utility]] allows the researcher to treat a society of utility-maximizers as if it consisted of a single [[Representative agent|'representative' individual]]. [[W. M. Gorman|Gorman]] showed that having the [[function (mathematics)|function]] take Gorman polar form is both [[necessary and sufficient]] for this condition to hold.

== Motivation ==

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Many applications of Gorman polar form are summarized in various texts and in Honohan and Neary's article cited at the end of this article. These applications include the ease of estimation of <math>f^i(p)</math> and <math>g(p)</math> in certain cases. But the most important application is for the theorist of economics, in that it allows a researcher to treat a society of utility-maximizing individuals as a single individual. In other words, under these conditions a community [[indifference curve|indifference mapping]] is guaranteed to exist.

== ReferencesSee also ==

* Honohan, Patrick, and [[J. Peter Neary|Neary, J Peter]]. ''W. M. Gorman (1923–2003).'' The Economic and Social Review, Vol. 34, No. 2, Summer/Autumn, 2003, pp. 195–209 [http://www.esr.ie/Vol34_2Neary.pdf]

* W. M. Gorman. ''On a class of preference fields,'' Metroeconomica, 13, August 1961, 53-56.

* Antonelli, G. B., 1886. Sulla Teoria Matematica dell’Economia Politica, Pisa; English translation in J.S. Chipman, L. Hurwicz, M. K. Richter and H. F. Sonnenschein (eds.): Preferences, Utility and Demand: A Minnesota Symposium, New York: Harcourt Brace Jovanovich, 1971, pp. 333–360.

* Nataf, A., 1953. “Sur des questions d’agrégation en économétrie,” Publications de l’Institut de Statistique de l’Université de Paris, 2, Fasc. Vol. 4, pp. 5–61.

==See also==

*[[Aggregate demand]]

*[[Representative agent]]

== References ==

*{{cite book |last=Antonelli, |first=G. B., |year=1886. |title=Sulla Teoria Matematica dell’Economia Politica, |___location=Pisa; }} English translation in {{cite book |editor1-first=J. S. |editor1-last=Chipman, |editor2-first=L. |editor2-last=Hurwicz, |editor3-first=M. K. |editor3-last=Richter and |editor4-first=H. F. |editor4-last=Sonnenschein (eds.): |title=Preferences, Utility and Demand: A Minnesota Symposium, |___location=New York: |publisher=Harcourt Brace Jovanovich, |year=1971, pp.|pages=333–360 333–360.|isbn= }}

*{{cite journal |first=W. M. |last=Gorman. ''|title=On a class of preference fields,'' |journal=Metroeconomica, |volume=13, August |year=1961, 53-56.|pages=53–56 |doi= }}

*{{cite journal |last=Honohan, |first=Patrick, and [[|authorlink=J. Peter Neary |last2=Neary, |first2=J. Peter]]. ''|title=W. M. Gorman (1923–2003).'' |journal=The Economic and Social Review, Vol. |volume=34, No. |issue=2, Summer/Autumn, |year=2003, pp. |pages=195–209 [|url=http://www.esr.ie/Vol34_2Neary.pdf] }}

*{{cite journal |last=Nataf, |first=A., |year=1953. “Sur|title=Sur des questions d’agrégation en économétrie,” |journal=Publications de l’Institut de Statistique de l’Université de Paris, |volume=2, Fasc. Vol. 4, pp.|pages=5–61 5–61.}}

[[Category:Utility]]