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Duality and the Slutsky Income and Substitution Effects of Increases in Wage Rate Uncertainty

โœ Scribed by Carmen F. Menezes and X. Henry Wang

Book ID
124322490
Publisher
Oxford University Press
Year
2005
Tongue
English
Weight
336 KB
Volume
57
Category
Article
ISSN
0030-7653

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๐Ÿ“œ SIMILAR VOLUMES

Duality, income and substitution effects
Duality, income and substitution effects for the competitive firm under price uncertainty
โœ Carmen F. Menezes; X. Henry Wang ๐Ÿ“‚ Article ๐Ÿ“… 2005 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 172 KB

This paper uses duality theory to decompose the total effect on the competitive firm's output of an increase in the riskiness of output price into income and substitution effects. Properties of preferences that control the sign of each effect are identified. The analysis extends to the general class