Bilancini, Ennio and Boncinelli, Leonardo Preferences and normal goods: An easy-to-check necessary and sufficient condition. Economics Letters, 108 (1). pp. 13-15. ISSN 0165-1765 (2010)
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Official URL: http://doi.org/10.1016/j.econlet.2010.03.005
Abstract
We provide a necessary and sufficient condition for goods to be normal when utility functions are differentiable and strongly quasi-concave. Our condition is equivalent to the condition proposed by Alarie et al. (1990), but it is easier to check: it only requires to compute the minors associated with the border column (or row) of the bordered Hessian matrix of the utility function.
| Item Type: | Article |
|---|---|
| Identification Number: | 10.1016/j.econlet.2010.03.005 |
| Uncontrolled Keywords: | Normal goods; Bordered Hessian |
| Subjects: | H Social Sciences > HB Economic Theory |
| Research Area: | Economics and Institutional Change |
| Depositing User: | Caterina Tangheroni |
| Date Deposited: | 24 Jan 2018 12:09 |
| Last Modified: | 24 Jan 2018 12:09 |
| URI: | http://eprints.imtlucca.it/id/eprint/3884 |
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