The Substitution Effect from the Profit Function in Consumption: Expressions from the Marshallian, Hicksian, and Frischian demand functions

José Ignacio Gimenez-Nadal
Authors registered in the RePEc Author Service: Jose Ignacio Gimenez-Nadal ()

Economics and Business Letters, 2018, vol. 7, issue 3, 92-97

Abstract: In the context of the optimizing behaviour assumption of individuals (Becker, 1976), three types of demand functions appear: Marshallian, Hicksian, and Frischian functions (Sproule, 2013). The Substitution Effect (SE) is a relevant concept, with our short paper developing two alternative theoretical expressions, specifically focusing on the Profit Function in Consumption and the Frischian functions. I address the fact that these demand functions with constant marginal utility of income play a very relevant role in the inter-temporal context.

Date: 2018
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