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On behavioral complementarity and its implications

  • Chambers, Christopher P.
  • Echenique, Federico
  • Shmaya, Eran

We study the behavioral definition of complementary goods: if the price of one good increases, demand for a complementary good must decrease. We obtain its full implications for observable demand behavior (its testable implications), and for the consumer's underlying preferences. We characterize those data sets which can be generated by rational preferences exhibiting complementarities. The class of preferences that generate demand complements has Leontief and Cobb-Douglas as its as extreme members.

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Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 145 (2010)
Issue (Month): 6 (November)
Pages: 2332-2355

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Handle: RePEc:eee:jetheo:v:145:y:2010:i:6:p:2332-2355
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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