The Dual Structure of Incomplete Demand Systems
AbstractIntegrability of incomplete demand systems is discussed. The concepts of weak integrability, quasi-expenditure function, quasi-indirect utility function, and quasi-utility function are defined. Their relationships to the expenditure function, indirect utility function, and utility function are developed. The dual structure of the quasi-functions permits exact welfare analysis and reveals the conditional preference structure for the commodities of interest. New results relating the uniqueness and exactness of consumer's surplus to the structure of the expenditure and indirect utility functions are obtained.
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Bibliographic InfoPaper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number archive-21.
Length: 13 pages
Date of creation: 1989
Date of revision:
Publication status: Published in American Journal of Agricultural Economics, 71:2, pp 262-274, 1989.
Contact details of provider:
Postal: Department of Economics, Monash University, Victoria 3800, Australia
Web page: http://www.buseco.monash.edu.au/eco/
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