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dc.contributor.authorMinagawa, Junichien_US
dc.contributor.authorUpmann, Thorstenen_US
dc.description.abstractThe 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.en_US
dc.publisherCenter for Economic Studies and Ifo Institute (CESifo) Munichen_US
dc.relation.ispartofseriesCESifo Working Paper: Empirical and Theoretical Methods 3969en_US
dc.subject.keywordthe Alchian-Allen theoremen_US
dc.subject.keywordincome and endowment effectsen_US
dc.titleThe generalized Alchian-Allen theoremen_US
dc.typeWorking Paperen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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