THE GENERALIZED ALCHIAN-ALLEN THEOREM: A SLUTSKY EQUATION FOR RELATIVE DEMAND.
We generalize the Alchian-Allen theorem so as to account for income and endowment effects and provide two versions of a Generalized Alchian-Allen theorem: one for a unit cost component and one for a proportional cost component. Both versions provide a decomposition of an uncompensated change in the...
| Publicado en: | Economic Inquiry Vol. 53; no. 4; pp. 1893 - 1908 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
Oct2015
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=109076063&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 109076063 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Oct2015 vid: 53 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 109076063 10.1111/ecin.12205 ppf: 1893 ppct: 15 formats: fmt: – @attributes: type: T – @attributes: type: P size: 197KB tig: atl: THE GENERALIZED ALCHIAN-ALLEN THEOREM: A SLUTSKY EQUATION FOR RELATIVE DEMAND. aug: au: Minagawa, Junichi Upmann, Thorsten affil: Faculty of Economics, Chuo University, 742‐1 Higashinakano, Hachioji Tokyo, 192‐0393, Japan Bielefeld University, Faculty of Business Administration and Economics, Postfach 10 01 31, Bielefeld NRW, 33501, Germany su: Income Supply & demand Endowment effect (Economics) Real property Child care laws sug: subj: Income Supply & demand Lessors of Other Real Estate Property Offices of Real Estate Agents and Brokers Endowment effect (Economics) Real property Child care laws ab: We generalize the Alchian-Allen theorem so as to account for income and endowment effects and provide two versions of a Generalized Alchian-Allen theorem: one for a unit cost component and one for a proportional cost component. Both versions provide a decomposition of an uncompensated change in the demand ratio of two goods into a substitution effect and an income-endowment effect-and may thus be regarded as extensions of the familiar Slutsky equation for relative demand. Finally, we apply our results to the choice of real estates and to parental time allocation decisions, the latter providing implications for child care policies. ( JEL D11, H21, J22, R21) pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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