Welfare variations and the comparative statics of demand by Koji Shirai

By:

Shirai, Koji [author]

Material type: Text

TextSeries: Economic Theory ; Volume 53, number 2Heildelberg : Springer, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

Subject(s):

Economic Theory -- Compensating variation -- Economics general

LOC classification:

HB119 ECO

Online resources:

Click here to access online

Summary: By employing order-theoretic comparative statics, we provide necessary and sufficient conditions on the direct utility function (alternatively, on the indirect utility function) to guarantee that the compensating and equivalent variations are monotonically increasing in income. We also show that these conditions are sufficient to guarantee normal demand. Our results do not depend on the smoothness or strict quasiconcavity of the utility function, and can be extended to a setting with non-linear prices

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB119 ECO (Browse shelf(Opens below))	vol. 53, no. 2 (pages 315-334)	SP21037	Not for loan	For In house Use

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By employing order-theoretic comparative statics, we provide necessary and sufficient conditions on the direct utility function (alternatively, on the indirect utility function) to guarantee that the compensating and equivalent variations are monotonically increasing in income. We also show that these conditions are sufficient to guarantee normal demand. Our results do not depend on the smoothness or strict quasiconcavity of the utility function, and can be extended to a setting with non-linear prices

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