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Asymmetric substitutability: theory and some applications

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  • K. de Jaegher

Abstract

Economists 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.

Suggested Citation

  • K. de Jaegher, 2008. "Asymmetric substitutability: theory and some applications," Working Papers 08-02, Utrecht School of Economics.
    • Handle: RePEc:use:tkiwps:0802
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    References listed on IDEAS

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    Cited by:

    1. Banerjee, Dyuti S. & Chatterjee, Ishita, 2014. "Exploring Stackelberg profit ordering under asymmetric product differentiation," Economic Modelling, Elsevier, vol. 36(C), pages 309-315.
    2. K.J.M. De Jaegher, 2010. "Giffen Behaviour and Asymmetric Substitutability," Working Papers 10-16, Utrecht School of Economics.
    3. Jang, Sungha & Prasad, Ashutosh & Ratchford, Brian T., 2017. "Consumer Search of Multiple Information Sources and its Impact on Consumer Price Satisfaction," Journal of Interactive Marketing, Elsevier, vol. 40(C), pages 24-40.
    4. Andrikopoulos, Athanasios & Markellos, Raphael N., 2015. "Dynamic interaction between markets for leasing and selling automobiles," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 260-270.
    5. Yang, Shilei & Shi, Victor & Jackson, Jonathan E., 2015. "Manufacturers׳ channel structures when selling asymmetric competing products," International Journal of Production Economics, Elsevier, vol. 170(PB), pages 641-651.
    6. Ciarreta, Aitor & Espinosa, Maria Paz & Pizarro-Irizar, Cristina, 2023. "Pricing policies for efficient demand side management in liberalized electricity markets," Economic Modelling, Elsevier, vol. 121(C).
    7. Masaki Fujimoto, 2022. "Giffen behavior and duality from the viewpoint of the relation between the shapes of price indifference and indifference curves," SN Business & Economics, Springer, vol. 2(11), pages 1-20, November.

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    More about this item

    Keywords

    asymmetric substitutability; consumer theory;

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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