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A systematic analysis of the links amongst the Marshallian, Hicksian, and Frischian demand functions: A note

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  • Sproule, Robert

Abstract

Three types of demand functions are central to contemporary consumer theory: the Marshallian, the Hicksian, and the Frischian demand functions. This paper presents a systematic definition of the analytical relationships amongst these demand functions under the maintained hypothesis that the decision maker is a profit maximizer.

Suggested Citation

  • Sproule, Robert, 2013. "A systematic analysis of the links amongst the Marshallian, Hicksian, and Frischian demand functions: A note," Economics Letters, Elsevier, vol. 121(3), pages 555-557.
    • Handle: RePEc:eee:ecolet:v:121:y:2013:i:3:p:555-557
    DOI: 10.1016/j.econlet.2013.10.004
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    References listed on IDEAS

    as
    1. Robert Sproule, 2010. "A note on the endogeneity of the price of utility within the consumer’s static profit function," Journal of Economics, Springer, vol. 101(2), pages 185-191, October.
    2. Besley, Timothy J, 1989. "A Definition of Luxury and Necessity for Cardinal Utility Functions," Economic Journal, Royal Economic Society, vol. 99(397), pages 844-849, September.
    3. Cornes,Richard, 1992. "Duality and Modern Economics," Cambridge Books, Cambridge University Press, number 9780521336017.
    4. Browning, Martin & Deaton, Angus & Irish, Margaret, 1985. "A Profitable Approach to Labor Supply and Commodity Demands over the Life-Cycle," Econometrica, Econometric Society, vol. 53(3), pages 503-543, May.
    5. Cooper, Russel J. & McLaren, Keith R. & Wong, Gary K. K., 2001. "On the empirical exploitation of consumers' profit functions in static analyses," Economics Letters, Elsevier, vol. 72(2), pages 181-187, August.
    6. Cooper, Russel J., 1994. "On the exploitation of additional duality relationships in consumer demand analysis," Economics Letters, Elsevier, vol. 44(1-2), pages 73-77.
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    Cited by:

    1. José Ignacio Gimenez-Nadal, 2018. "The Substitution Effect from the Profit Function in Consumption: Expressions from the Marshallian, Hicksian, and Frischian demand functions," Economics and Business Letters, Oviedo University Press, vol. 7(3), pages 92-97.
    2. Sproule, Robert, 2023. "The Anomalies Of The Wold-Juréen (1953) Functional Form In Overview," MPRA Paper 117835, University Library of Munich, Germany.

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    More about this item

    Keywords

    Consumer theory; Frischian profit function; Frischian demand function; Price of utility;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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