2018/11/19 by Robin Maialeh · 1 citation
Economics, Econometrics and Finance · #Economic theories and models
paper · pdf · doi:10.2298/pan160220031m
openalex publication_date 2018/11/19 · openalex created_date 2025/10/10 · openalex updated_date 2026/05/21
The aim of the article is to demonstrate on a familiar example of Cobb-Douglas utility function principles of intertemporal resource allocation under general market conditions. The enormous increase of data availability and progress in data analysis in recent decades caused that empirical inequality research has created a robust base of results. On the other hand, researchers face serious interpretation difficulties. Empirical results do not speak for themselves but only through interpretative theory. Hence, the article provides a theoretical scheme which clarifies fundamental inequality-driving forces and which reveals economic inequalities as the intrinsic feature of market economies.