Luxuries are Easier to Postpone : A Proof

We show that (Marshallian) income elasticities are proportional to (Frisch) own price elasticities if all goods are additively separable. This implies that luxuries are likely to be easier to postpone. It also implies that preferences over "consumption" are unlikely to display a constant elasticity of substitution

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Year of publication:	2001
Authors:	Browning, Martin ; Crossley, Thomas F.
Publisher:	[S.l.] : SSRN
Subject:	Luxusgüter \| Luxury goods \| Preiselastizität \| Price elasticity \| Einkommenselastizität der Nachfrage \| Income elasticity of demand \| Präferenztheorie \| Theory of preferences \| Konsumgüter \| Consumer goods \| Einkommenshypothese \| Income hypothesis

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Extent:	1 Online-Ressource (5 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Political Economy, Vol. 108, No. 5, October 2000
Other identifiers:	10.2139/ssrn.241041 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014147537