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On Expenditure Functions

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  • E. Martinez Legaz
  • M. Santos

Abstract

In this paper we present complete characterizations of the expenditure function for both utility representations and preference structures. Building upon these results, we also establish under minimal assumptions duality theorems for exıpenditure functions and utility representations, and for expenditure functions and preference structures. These results generalize previous work in this area; moreover, in the case of preferences structures they apply to non-completeı preorders.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • E. Martinez Legaz & M. Santos, 1994. "On Expenditure Functions," Working Papers 9402, Centro de Investigacion Economica, ITAM.
    • Handle: RePEc:cie:wpaper:9402
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    References listed on IDEAS

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    1. McFadden, Daniel, 1978. "Cost, Revenue, and Profit Functions," Histoy of Economic Thought Chapters, in: Fuss, Melvyn & McFadden, Daniel (ed.),Production Economics: A Dual Approach to Theory and Applications, volume 1, chapter 1, McMaster University Archive for the History of Economic Thought.
    2. Lionel McKenzie, 1957. "Demand Theory Without a Utility Index," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(3), pages 185-189.
    3. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (II): Applications of the Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number fuss1978a.
    4. Deaton, Angus, 1986. "Demand analysis," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 3, chapter 30, pages 1767-1839, Elsevier.
    5. Jacobsen, S E, 1970. "Production Correspondences," Econometrica, Econometric Society, vol. 38(5), pages 754-771, September.
    6. Mas-Colell, Andreu, 1986. "The Price Equilibrium Existence Problem in Topological Vector Lattice s," Econometrica, Econometric Society, vol. 54(5), pages 1039-1053, September.
    7. Fuss, Melvyn & McFadden, Daniel (ed.), 1978. "Production Economics: A Dual Approach to Theory and Applications," Elsevier Monographs, Elsevier, edition 1, number 9780444850133.
    8. Martinez-Legaz, Juan-Enrique & Santos, Manuel S, 1993. "Duality between Direct and Indirect Preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(2), pages 335-351, April.
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    Cited by:

    1. M. Ali Khan & Edward E. Schlee, 2016. "On Lionel McKenzie's 1957 intrusion into 20th-century demand theory," Canadian Journal of Economics, Canadian Economics Association, vol. 49(2), pages 589-636, May.
    2. Schlee, Edward E. & Ali Khan, M., 2023. "Money-metrics in local welfare analysis: Pareto improvements and equity considerations," Journal of Economic Theory, Elsevier, vol. 213(C).
    3. Alcantud, J. C. R. & Manrique, A., 2001. "Continuous representation by a money-metric function," Mathematical Social Sciences, Elsevier, vol. 41(3), pages 365-373, May.
    4. Edward E. Schlee & M. Ali Khan, 2022. "Money Metrics In Applied Welfare Analysis: A Saddlepoint Rehabilitation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(1), pages 189-210, February.
    5. S. Mirzadeh & H. Mohebi, 2016. "Abstract Concavity of Increasing Co-radiant and Quasi-Concave Functions with Applications in Mathematical Economics," Journal of Optimization Theory and Applications, Springer, vol. 169(2), pages 443-472, May.

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