Asymmetric substitutability: theory and some applications

    Research output: Working paperAcademic

    Abstract

    Economists usually describe goods as being either (gross) complements or (gross)
    substitutes. Yet, what is less known is that one good may be a gross substitute for a second good, while the second good is a gross complement to the first good. This paper shows the existence of asymmetric gross substitutability, and shows some potential examples and applications.
    Original languageEnglish
    Place of PublicationUtrecht
    PublisherUU USE Tjalling C. Koopmans Research Institute
    Number of pages24
    Publication statusPublished - Jan 2008

    Publication series

    NameDiscussion Paper Series / Tjalling C. Koopmans Research Institute
    No.02
    Volume08

    Keywords

    • asymmetric substitutability
    • consumer theory

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