The Benefit Function Approach to Modeling Price-Dependent Demand Systems: An Application of Duality Theory
In this article, we advocate more extensive use of the benefit function in specifying price-dependent or inverse demand models. We demonstrate how duality theory may be used to establish the interrelationships between the Marshallian (or Hicksian) inverse demands and Luenberger's adjusted price...
Veröffentlicht in: | American Journal of Agricultural Economics. - Oxford University Press. - 91(2009), 4, Seite 1110-1123 |
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Format: | Online-Aufsatz |
Sprache: | English |
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2009
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Zugriff auf das übergeordnete Werk: | American Journal of Agricultural Economics |
Schlagworte: | benefit functions duality theory inverse demands numerical inversion estimation method Economics Mathematics Biological sciences Applied sciences Philosophy Business |
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