The dual structure of incomplete demand systems

Integrability of incomplete demand systems is discussed. The concepts of weak integrability, quasi-expenditure function, quasi-indirect utility function, and quasi-utility function are defined. Their relationships to the expenditure function, indirect utility function, and utility function are devel...

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Bibliographic Details
Published in:American journal of agricultural economics 1989-05, Vol.71 (2), p.262-274
Main Authors: LaFrance, Jeffrey T., Hanemann, W. Michael
Format: Article
Language:English
Subjects:
balance de provisiones
bilan d' approvisionnement
Commodities
comportamiento del consumidor
comportement des consommateurs
consumer behaviour
Consumer surplus
Demand change
demand functions
demand systems
dual structure
dualisme
dualismo economico
econometria
econometrics
econometrie
economia
economia de bienestar
economic dualism
Economic theory
economics
economie
economie du bien etre
fonction de demande
funciones de la demanda
integracion
integration
Mathematical functions
Mathematical independent variables
modele
modelos
Price indices
supply balance
Total expenditures
Utility functions
Utility maximization
welfare economics
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Summary:Integrability of incomplete demand systems is discussed. The concepts of weak integrability, quasi-expenditure function, quasi-indirect utility function, and quasi-utility function are defined. Their relationships to the expenditure function, indirect utility function, and utility function are developed. The dual structure of the quasi-functions permits exact welfare analysis and reveals the conditional preference structure for the commodities of interest. New results relating the uniqueness and exactness of consumer's surplus to the structure of the expenditure and indirect utility functions are obtained.
ISSN:0002-9092
1467-8276
DOI:10.2307/1241583