Duality and the Geometry of the Income and Substitution Effects
The geometry of the Hicks-Slutsky income and substitution effect is framed in terms of the consumers expenditure function and expenditure equation and thus can be studied with-out resorting to the indifference map of a direct utility function.
Volume (Year): 1 (2002)
Issue (Month): 3 (December)
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- Lionel McKenzie, 1957. "Demand Theory Without a Utility Index," Review of Economic Studies, Oxford University Press, vol. 24(3), pages 185-189.
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