Implicit Additive Preferences: A Further Generalization of the CES

The CES is generalized by extension of the work of Hanoch (1975) resulting in implicit, direct and indirect relationships between utility and consumption. Expressions for substitution and income elasticities are developed and observed to be variable, rather than constant as in the CES case.

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Year of publication:	2005
Authors:	Preckel, Paul ; Hertel, Thomas ; Cranfield, John
Institutions:	Department of Agricultural Economics, Purdue University
Subject:	Constant elasticity of substitution \| implicit functions \| preferences \| demand

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 05-03 13 pages
Classification:	D12 - Consumer Economics: Empirical Analysis ; D21 - Firm Behavior
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005771577