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Bertoletti, Paolo; Rampa, Giorgio - 2011

A necessary and sufficient condition for an input to be inferior is that, taking into account the input adjustment, an increase of its price raises the marginal productivity of all inputs. Contrary to a widespread opinion, it is not necessary that (some) inputs are "rivals" (i.e., that some...

Persistent link: https://www.econbiz.de/10010335264

Homothetic Efficiency. A Non-Parametric Approach

Heufer, Jan; Hjertstrand, Per - 2014

efficiency. Homotheticity is a useful restriction or assumption but data rarely satisfy testable conditions. To overcome this …

Persistent link: https://www.econbiz.de/10010420991

The two faces of independence: Betweenness and homotheticity

Burghart, Daniel R.; Epper, Thomas; Fehr, Ernst - 2014

independence can be decomposed into two distinct axioms - betweenness and homotheticity - and that these two axioms are necessary … and sufficient for independence. Thus, independence can fail because homotheticity, betweenness, or both are violated … satisfy betweenness but violate homotheticity. Our decomposition of independence into betweenness and homotheticity allows us …

Persistent link: https://www.econbiz.de/10011282512

Scale-invariant uncertainty-averse preferences and source-dependent constant relative risk aversion

Skiadas, Costis - In: Theoretical Economics 8 (2013) 1, pp. 59-93

Preferences are defined over payoffs that are contingent on a finite number of states representing a horse race (Knightian uncertainty) and a roulette (objective risk). The class of scale-invariant (SI) ambiguity-averse preferences, in a broad sense, is uniquely characterized by a multiple-prior...

Persistent link: https://www.econbiz.de/10011599476

Homothetic or Cobb-Douglas Behavior Through Aggregation

Giraud, Gael; Quah, John K.-H. - In: Contributions in Theoretical Economics 3 (2003) 1

A common theme in the theory of demand aggregation is that market demand can acquire properties which are not always individually present among the agents who make up that market, a phenomenon we call heteroiosis in this paper. This paper focusses on the well known result that with a suitable...

Persistent link: https://www.econbiz.de/10014589015

Theil, Inequality Indices and Decomposition

Cowell, Frank - Society for the Study of Economic Inequality - ECINEQ - 2005

Theil’s approach to the measurement of inequality is set in the context of subsequent developments over recent decades. It is shown that Theil’s initial insight leads naturally to a very general class of decomposable inequality measures. It is thus closely related to a number of other...

Persistent link: https://www.econbiz.de/10005413394

Homothetic Efficiency. A Non-Parametric Approach

Heufer, Jan; Hjertstrand, Per - Rheinisch-Westfälisches Institut für … - 2014

efficiency. Homotheticity is a useful restriction or assumption but data rarely satisfy testable conditions. To overcome this …

Persistent link: https://www.econbiz.de/10010814384

Differential duality

Mantovi, A. - Facoltà di Economia, Università degli Studi di Parma - 2013

A framework for duality theory is set forth, based on the model-independent role of homotheties. An expansion vector field is introduced as global generator of pure expansion effects, in terms of which to deepen the differential aspects of preference symmetries, fundamental identities and...

Persistent link: https://www.econbiz.de/10010726296

Necessary and sufficient conditions for an environmental Kuznets curve with some illustrative examples

Murty, Sushama - Business School, University of Exeter - 2014

We propose a set of necessary and sufficient conditions for the environmental Kuznets curve (EKC) phenomenon in a general model that permits non-smooth preferences and feasible sets and corner solutions for welfare maximisation. These conditions pertain to the relationship between the sets of...

Persistent link: https://www.econbiz.de/10010761595

Homotheticity and Non-Radial Changes

Chambers, Robert; Mitchell, Thomas - In: Journal of Productivity Analysis 15 (2001) 1, pp. 31-39

if the input correspondence is input homothetic,thus suggesting that ``input homotheticity'' is more than justan ``input …

Persistent link: https://www.econbiz.de/10010988859