Generalized Rationing Theory

William Jackson

Scottish Journal of Political Economy, 1991, vol. 38, issue 4, 335-42

Abstract: This paper extends the duality approach to rationing to cover general quantity constraints on consumption. In the generalized theory, the allocation of goods within a ration can be characterized as a choice of virtual prices by the consumer. A rationed method is relevant whenever consumers are influenced by external factors introduced as additional constraints into neoclassical consumer theory. Copyright 1991 by Scottish Economic Society.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:bla:scotjp:v:38:y:1991:i:4:p:335-42

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