Implicit Additive Preferences: A Further Generalization of the CES

Paul Preckel (), Thomas Hertel and John Cranfield

No 05-03, Working Papers from Purdue University, College of Agriculture, Department of Agricultural Economics

Abstract: The CES is generalized by extension of the work of Hanoch (1975) resulting in implicit, direct and indirect relationships between utility and consumption. Expressions for substitution and income elasticities are developed and observed to be variable, rather than constant as in the CES case.

Keywords: Constant elasticity of substitution; implicit functions; preferences; demand (search for similar items in EconPapers)
JEL-codes: D12 D21 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2005
New Economics Papers: this item is included in nep-upt
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: IMPLICIT ADDITIVE PREFERENCES: A FURTHER GENERALIZATION OF THE CES (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:pae:wpaper:05-03

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