John H. Hoag, Ph.D.
Professor of Economics
I have little time for research, but here is a fascinating question about going from a family of demand curves to the utility function that generated them. The conditions under which one can do this when utility depends only on the quantity of the goods consumed is well known. But what if one starts with an arbitrary family of demands (that satisfy the budget), and then looks for the utility? It can happen that the conditions under which a utility function generating that set of demands is not satisfied, yet there is such a utility function. One case where this happens is when the utility also depends on prices. Is there a general result that provides the conditions under which a given set of demand can be generated from a utility that depends on both quantities consumed and prices?
What am I reading? Yet again I have started "The Decline and Fall of the Roman Empire." I think I am getting somewhere as I have read nearly 400 pages, but I am not a tenth of the way through! Still, it is fascinating!
Ph.D. University of Kansas, 1972
M.A. University of Minnesota, 1968
B.A. Purdue University, 1966
Full Professor of Economics, Bowling Green State University, 1982–present
Associate Professor of Economics, Bowling Green State University, 1976–1982
Assistant Professor of Economics, Bowling Green State University, 1972–1976
BGSU Chair/Director Leadership Award, 2009
CBA Alumni Undergraduate Teaching Award, 2007
Faculty Senate Distinguished Service Award, 2003
Calculus and Techniques of Optimization with Microeconomic Applications, World Scientific Publishing, 2008.
Introductory Economics, 4rd edition, World Scientific Publishing, 2006, (with Arleen Hoag). The study guide is available on the web in pdf format http://www.business.bgsu.edu/faculty_staff/hoag/studyguide2006.html
“Seating Location in Large Lectures: Are Seating Preferences or Location Related to Course Performance?” Journal of Economic Education, Summer 2004, Vol 35, No. 3, with Mary Ellen Benedict