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Title:The generalized Alchian-Allen theorem PDF Logo
Authors:Minagawa, Junichi
Upmann, Thorsten
Issue Date:2012
Series/Report no.:CESifo Working Paper: Empirical and Theoretical Methods 3969
Abstract:The Alchian-Allen substitution theorem states that an increase of the prices of two similar goods by the same amount leads to a relative increase in the compensated demand of the more expensive good. In this paper we generalize this theorem to ordinary demand functions and show under which conditions the Alchian-Allen result continues to hold when income and endowment effects are taken into account.
Subjects:the Alchian-Allen theorem
income and endowment effects
JEL:D11
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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