Inverting systems of demand functions

Leonard Cheng

doi:10.1016/0022-0531(85)90037-7

Inverting systems of demand functions

Leonard Cheng^*

^*Corresponding author for this work

Research output: Journal Publications › Journal Article (refereed) › peer-review

10 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 language	English
Pages (from-to)	202-210
Number of pages	9
Journal	Journal of Economic Theory
Volume	37
Issue number	1
DOIs	https://doi.org/10.1016/0022-0531(85)90037-7
Publication status	Published - 1 Jan 1985
Externally published	Yes

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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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