Leontief Utility Function, first conceptualized by Wassily Leontief

Wassily Leontief

Wassily Wassilyovich Leontief , was a Russian-American economist notable for his research on how changes in one economic sector may have an effect on other sectors. Leontief won the Nobel Committee's Nobel Memorial Prize in Economic Sciences in 1973, and three of his doctoral students have also...

, are of the form

.

Solving for Walrasian/Marshallian Demand

Solving for Walrasian/Marshallian demand is a simple affair with utility functions representing Leontief preferences. One need only set equal the terms of the min function and solve then w.r.t the income constraint [Income = (p1)*(x1)+ ... + (pn)(xn)]