What does homothetic preferences mean?
Definitions for homothetic preferences
ho·mo·thetic pref·er·ences
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Wikipedia
Homothetic preferences
In consumer theory, a consumer's preferences are called homothetic if they can be represented by a utility function which is homogeneous of degree 1. For example, in an economy with two goods x , y {\displaystyle x,y} , homothetic preferences can be represented by a utility function u {\displaystyle u} that has the following property: for every a > 0 {\displaystyle a>0} :
Numerology
Chaldean Numerology
The numerical value of homothetic preferences in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of homothetic preferences in Pythagorean Numerology is: 5
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"homothetic preferences." Definitions.net. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.definitions.net/definition/homothetic+preferences>.
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