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The LeChatelier principle: the long and the short of it


Author Info

  • Wing Suen

    (School of Economics and Finance, The University of Hong Kong, Pokfulam Road,Hong Kong, HONG KONG)

  • Paul Tseng

    (Department of Mathematics, University of Washington, Seattle, WA 98195, USA)

  • Eugene Silberberg

    (Department of Economics, University of Washington, Seattle, WA 98195, USA)


Using ordinary calculus techniques, we investigate the conditions under which LeChatelier effects are signable for finite changes in parameter values. We show, for example, that the short run demand for a factor is always less responsive to price changes than the long run demand, provided that the factor of production and the fixed factor do not switch from being substitutes to being complements (or vice versa) over the relevant range of the price change. The absence of a sign change in the complementarity/substitutability relation holds under conditions that are considerably more general than supermodularity of the production function.

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 16 (2000)
Issue (Month): 2 ()
Pages: 471-476

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Handle: RePEc:spr:joecth:v:16:y:2000:i:2:p:471-476

Note: Received: June 10, 1999; revised version: June 24, 1999
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Keywords: Comparative statics; LeChatelier principle.;


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Cited by:
  1. Julian Jamison, 2006. "The Le Chatelier Principle in lattices," Economics Bulletin, AccessEcon, vol. 3(2), pages 1-9.
  2. George Lady & James Quirk, 2010. "The global LeChatelier Principle and multimarket equilibria," Review of Economic Design, Springer, vol. 14(1), pages 193-201, March.


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