Inverting systems of demand functions

Leonard Cheng*

*Corresponding author for this work

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

9 Citations (Scopus)

Abstract

This note gives a set of sufficient conditions under which a system of demand functions for "gross substitutes" can be inverted to obtain an equivalent system of inverse demand functions, and vice versa. These conditions also ensure that either system can be inverted to obtain a system of "mixed" demand functions, i.e., a mixture of demand and inverse demand functions. In addition, the resultant functions possess intuitive properties expected of gross substitutes.

Original languageEnglish
Pages (from-to)202-210
Number of pages9
JournalJournal of Economic Theory
Volume37
Issue number1
DOIs
Publication statusPublished - 1 Jan 1985
Externally publishedYes

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Demand function
Substitute
Inverse demand

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abstract = "This note gives a set of sufficient conditions under which a system of demand functions for {"}gross substitutes{"} can be inverted to obtain an equivalent system of inverse demand functions, and vice versa. These conditions also ensure that either system can be inverted to obtain a system of {"}mixed{"} demand functions, i.e., a mixture of demand and inverse demand functions. In addition, the resultant functions possess intuitive properties expected of gross substitutes.",
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Inverting systems of demand functions. / Cheng, Leonard.

In: Journal of Economic Theory, Vol. 37, No. 1, 01.01.1985, p. 202-210.

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

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N2 - This note gives a set of sufficient conditions under which a system of demand functions for "gross substitutes" can be inverted to obtain an equivalent system of inverse demand functions, and vice versa. These conditions also ensure that either system can be inverted to obtain a system of "mixed" demand functions, i.e., a mixture of demand and inverse demand functions. In addition, the resultant functions possess intuitive properties expected of gross substitutes.

AB - This note gives a set of sufficient conditions under which a system of demand functions for "gross substitutes" can be inverted to obtain an equivalent system of inverse demand functions, and vice versa. These conditions also ensure that either system can be inverted to obtain a system of "mixed" demand functions, i.e., a mixture of demand and inverse demand functions. In addition, the resultant functions possess intuitive properties expected of gross substitutes.

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