Asymmetric substitutability: theory and some applications
AbstractEconomists usually describe goods as being either (gross) complements or (gross) substitutes. Yet, what is less known is that one good may be a gross substitute for a second good, while the second good is a gross complement to the first good. This paper shows the existence of asymmetric gross substitutability, and shows some potential examples and applications.
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Bibliographic InfoPaper provided by Utrecht School of Economics in its series Working Papers with number 08-02.
Length: 24 pages
Date of creation: 2008
Date of revision:
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Other versions of this item:
- Kris De Jaegher, 2009. "Asymmetric Substitutability: Theory And Some Applications," Economic Inquiry, Western Economic Association International, vol. 47(4), pages 838-855, October.
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-02-09 (All new papers)
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