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Probabilistic Solutions to the Problem of Rational Consumer Choice with Random Income

Authors: Timofeeva, G. A.; Ie, O. N.;

Probabilistic Solutions to the Problem of Rational Consumer Choice with Random Income

Abstract

G.A. Timofeeva1,2, O.N. Ie1,2 1Ural State University of Railway Transport, Ekaterinburg, Russian Federation 2Ural Federal University, Ekaterinburg, Russian Federation E-mails: Gtimofeeva@usurt.ru, olgaie@mail.ru. Галина Адольфовна Тимофеева, доктор физико-математических наук, профессор, кафедра ≪Естественнонаучные дисциплины≫, Уральский государственный университет путей сообщения, профессор; учебно-научный центр ≪Информационная безопасность≫, Уральский федеральный университет имени первого Президента России Б.Н. Ельцина (г. Екатеринбург, Российская Федерация), Gtimofeeva@usurt.ru. Ольга Николаевна Ие, кандидат физико-математических наук, доцент, кафедра ≪Естественнонаучные дисциплины≫, Уральский государственный университет путей сообщения; доцент, кафедра ≪Эконометрика и статистика≫, Уральский федеральный университет имени первого Президента России Б.Н. Ельцина (г. Екатеринбург, Российская Федерация), olgaie@mail.ru. Probabilistic solutions are used when the amount of decision-makers is large. Each of them chooses the optimal solution independently of the others by solving his optimization problem. In this case, the optimal solution constructed by a randomly selected person (e.g. a consumer of goods) can be considered as a random vector. In particular, probabilistic solutions arise naturally in the rational consumer choice problem if income is assumed to be random. The problem of the utility function maximization at a time when the income of a randomly selected consumer is described as a random variable is considered as the stochastic optimization problem. The properties and distribution of the probabilistic solution of the consumer choice problem for various types of the utility function and income distribution are studied. Вероятностные решения используются в том случае, когда количество лиц, принимающих решения, велико, каждый из них принимает оптимальное решение независимо от других, решая свою задачу оптимизации. В этом случае оптимальное решение, принятое случайно выбранным лицом (например, потребителем благ), можно рассматривать как случайный вектор. В частности, вероятностные решения естественно возникают в задаче рационального потребительского выбора в случае, когда доход предполагается случайным. Задача максимизации функции полезности в условиях, когда доход случайно выбранного потребителя описывается случайной величиной, рассматривается как задача стохастической оптимизации. Исследуются свойства и распределение вероятностного решения задачи потребительского выбора для различных видов функции полезности и распределения дохода.

Country
Russian Federation
Keywords

функция полезности, RANDOM INCOME, random income, УДК 519.8, utility function, задача потребительского выбора, THE PROBLEM OF CONSUMER CHOICE, stochastic optimization, UTILITY FUNCTION, PROBABILISTIC SOLUTION, вероятностное решение, probabilistic solution, стохастическая оптимизация, случайный доход, the problem of consumer choice, STOCHASTIC OPTIMIZATION

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
1
Average
Average
Average
Green
gold