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Revealed Preference and the Number of Commodities

Heufer, Jan - 2007

a simplified nonparametric test of homotheticity. In the second part a unifying proof technique is presented to show …

Persistent link: https://www.econbiz.de/10010264708

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

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/10011288415

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

A contribution to duality theory, applied to the measurement of risk aversion

Martínez-Legaz, Juan; Quah, John - In: Economic Theory 30 (2007) 2, pp. 337-362

Persistent link: https://www.econbiz.de/10005371045

Homothetic functions revisited

Lindberg, P.O.; Eriksson, E. Anders; Mattsson, Lars-Göran - In: Economic Theory 19 (2002) 2, pp. 417-427

This paper examines the proposition that homotheticity is equivalent to the property that (e.g., in the context of a …

Persistent link: https://www.econbiz.de/10005371051

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