Asymmetric substitutability: theory and some applications
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Publication date
2008-01
Authors
De Jaegher, K.J.M.
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Document Type
Working paper
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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.
Keywords
asymmetric substitutability, consumer theory
Citation
de Jaegher, K 2008 'Asymmetric substitutability: theory and some applications' Discussion Paper Series / Tjalling C. Koopmans Research Institute, no. 02, vol. 08, UU USE Tjalling C. Koopmans Research Institute, Utrecht.