Aggregation, Consumption and Trade: Essays in Honor of H.S. by Louis Philips, Lester D. Taylor (auth.), Louis Phlips,

By Louis Philips, Lester D. Taylor (auth.), Louis Phlips, Lester D. Taylor (eds.)

During this testomony to the celebrated occupation of H.S. Houthakker a couple of Professor Houthakker's neighbors, former colleagues and previous scholars provide essays which construct upon and expand his many contributions to economics in aggregation, intake, development and alternate. one of many amazing participants are Paul Samuelson, Werner Hildenbrand, John Muellbauer and Lester Telser. The e-book additionally contains 4 formerly unpublished papers and notes by way of its unusual dedicatee.

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Example text

It is an analytically convenient assumption but not very realistic. There is moreover the intuition that with substitution between goods i and j, a price increase for good i will meet with a sharper decrease in the demand for it than without the alternative offered by the substitute. The purpose of this section is to verify this intuition. To keep matters simple, we allow for a single deviation from independence. We will assume that a 12 = a 21 is not zero, but that all other a ij , i,* j, are zero.

67 - 87. CROSS-SECTION ENGEL CURVES, EXPENDITURE DISTRIBUTIONS, AND THE "LAW OF DEMAND" BIRGIT GRODAL, Copenhagen' WERNER HILDENBRAND, Bonn' Institut fur Gesellschafts- und Wirtschanftswissenschaften ' Abteilung Wirtschaftstheorie /I Rheinische Friedrich-Wilhelms-Universitat Bonn Adenauerallee 24-26 D-5300 Bonn 1 Germany ABSTRACT. In this paper we shall use two traditional concepts of applied demand analysis in order to analyze some fundamental properties of the market demand function of a large consumption sector.

797 - 801. E. (1913), "The Pure Theory of Utility Curves," The Economic Journal, Vol. 23, pp. 483 - 513. A. (1947), Foundations of Economic Analysis, Harvard University Press, Cambridge, 1983. A. (1974), "Complementarity: An Essay on the 40th Anniversary of the Hicks-Allen Revolution in Demand Theory," Journal 0/ Economic Literature, Vol. 4, December 1974, pp. 1255 - 1289. A. (1965), "Using Full Duality to Show that Simultaneously Additive Direct and Indirect Utilities Implies Unitary Price Elasticities of Demand," Econometrica, Vol.

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