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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
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http://hdl.handle.net/10419/65851
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| Title: | | The generalized Alchian-Allen theorem  |
| 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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