Three types of demand functions are central to contemporary consumer theory: the Marshallian, the Hicksian, and the Frischian demand functions. This paper presents a systematic definition of the analytical relationships amongst these demand functions under the maintained hypothesis that the...

Despite the absence of a formal definition of the relationship between the marginal and the global effects of risk, in the literature termed the economics of uncertainty, intuition would suggest it unjustifiable to presume that these two concepts are categorically independent. This paper...

This paper points up the methodological inadequacy of the "student evaluation of teaching" as a research program. We do this by reference to three, interrelated arguments. The first is that the student evaluation of teaching cannot claim to capture the wisdom of a crowd because, as a research...

El modelo de Sandmo (1971) para la empresa competitiva bajo incertidumbre en el precio ha sido objeto de investigación desde su aparición en 1971, en parte por el hecho de que se hayan identificado tres enfoques diferentes para señalar el efecto marginal de riesgo. Uno de estos enfoques ha...

Using a sample of European abstract art we show that reservation prices constrain pre-auction estimates in such a way that we are more likely to observe overestimation relative to the midpoint of the estimation window. At the same time, we also find that the low pre-auction estimate is a more...

In our experience, all textbook presentations of the Slutsky Equation under a discrete price change use a compensation scheme based on the compensating variation. Our students have sensed this convention is arbitrary in that they have asked, why consider this compensation scheme, and not one...