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Journal of Information and Optimization Sciences cover
Open Access ·Peer-reviewed·ISSN (Online): 2169-0103·ISSN (Print): 0252-2667

WoS  JIF 2026 : 0.4 (Q4)

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Monthly Journal: Publishes theoretical and applied research on topics in information and optimization sciences.

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Open Access Research Article

Marshallian and Hicksian demand functions without calculus

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pp. 579–590Vol. 46Issue 3April 2025DOI: 10.47974/JIOS-1316XML
Received:
10 Aug 2022
Published Online:
31 Mar 2025
Article type:
Research Article
Language:
EN
Article no.:
JIOS-1316
Pages:
579–590

Abstract

This study introduces an innovative method for deriving the Marshallian and Hicksian demand functions without the need of calculus, thus enhancing the accessibility of these fundamental economic models for audiences with less mathematical expertise. Conventional derivations of these demand functions employ calculus to optimize utility and expenditure within restrictions, potentially restricting accessibility in educational contexts and practical implementations. We utilize algebraic methods, such as Cauchy’s inequality and the Arithmetic Mean-Geometric Mean [1], [3] (AM-GM) inequality, to derive these functions, illustrating that they may be expressed through fundamental algebraic propositions and inequalities. Our methodology enhances the literature by providing an alternate framework for comprehending demand theory that maintains mathematical precision without necessitating differential calculus. This method is applied to prevalent utility functions, such as the Cobb-Douglas and Stone-Geary models, to demonstrate the usefulness and applicability of algebraic derivations in economic modeling. This study possesses significant importance for economic education, since it corresponds with current initiatives to make quantitative economics more accessible. The proposed algebraic framework may be beneficial in applied economics settings where advanced mathematical tools are scarce. This study seeks to connect intricate calculus-based methodologies with accessible algebraic methods, so expanding the accessibility of microeconomic theory and providing an inclusive option for demand function analysis.

Keywords

Subject Classifications

62P2037N4046N10

References

[1] P. Fuleky, Anatomy of C-D Production/Utility Functions in Three Dimensions (2006).
[2] I. Niven, Maxima and Minima Without Calculus, MAA Am. Math. Soc. (1981).
[3] V. M. Tikhomirov, Stories about Maxima and Minima, Am. Math. Soc. (1990).

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