Arias Intensity

Leontief utility function, first conceptualized by Wassily Leontief, are of the form

$u(x_1,\dots ,x_C)=\min \{\frac{x_1}{a_1},\dots ,\frac{x_C}{a_C}\}$.

Solving for Walrasian–Marshallian demand

Solving for Walrasian–Marshallian demand is a simple affair with utility functions representing Leontief preferences. One need only set equal the terms of the min function and solve then w.r.t the income constraint [Income = (p1)*(x1)+ ... + (pn)(xn)]

References

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