Narrow search
Showing 1 - 10 of 29
Cover Image
On Marginal Returns and Inferior Inputs
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
Homothetic efficiency and test power : a non-parametric approach
Heufer, Jan; Hjertstrand, Per - 2015
. Homotheticity is a useful restriction but data rarely satisfies testable conditions. To overcome this we provide a way to estimate …
Persistent link: https://www.econbiz.de/10010532589
Cover Image
Necessary and sufficient conditions for an environmental Kuznets curve with some illustrative examples
Murty, Sushama - 2014
Persistent link: https://www.econbiz.de/10010357266
Cover Image
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/10010399444
Cover Image
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/10010430733
Cover Image
On Marginal Returns and Inferior Inputs
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/10010343862