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.
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 language | English |
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Place of Publication | Utrecht |
Publisher | UU USE Tjalling C. Koopmans Research Institute |
Number of pages | 24 |
Publication status | Published - Jan 2008 |
Publication series
Name | Discussion Paper Series / Tjalling C. Koopmans Research Institute |
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No. | 02 |
Volume | 08 |
Keywords
- asymmetric substitutability
- consumer theory