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A systematic analysis of the links amongst the Marshallian, Hicksian, and Frischian demand functions: A note

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  • Sproule, Robert

Abstract

Three types of demand functions are central to contemporary consumer theory: the Marshallian, the Hicksian, and the Frischian demand functions. This paper presents a systematic definition of the analytical relationships amongst these demand functions under the maintained hypothesis that the decision maker is a profit maximizer.

Suggested Citation

  • Sproule, Robert, 2013. "A systematic analysis of the links amongst the Marshallian, Hicksian, and Frischian demand functions: A note," Economics Letters, Elsevier, vol. 121(3), pages 555-557.
    • Handle: RePEc:eee:ecolet:v:121:y:2013:i:3:p:555-557
    DOI: 10.1016/j.econlet.2013.10.004
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    References listed on IDEAS

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    1. Browning, Martin & Deaton, Angus & Irish, Margaret, 1985. "A Profitable Approach to Labor Supply and Commodity Demands over the Life-Cycle," Econometrica, Econometric Society, vol. 53(3), pages 503-543, May.
    2. Robert Sproule, 2010. "A note on the endogeneity of the price of utility within the consumer’s static profit function," Journal of Economics, Springer, vol. 101(2), pages 185-191, October.
    3. Besley, Timothy J, 1989. "A Definition of Luxury and Necessity for Cardinal Utility Functions," Economic Journal, Royal Economic Society, vol. 99(397), pages 844-849, September.
    4. Cornes,Richard, 1992. "Duality and Modern Economics," Cambridge Books, Cambridge University Press, number 9780521336017, November.
    5. Cooper, Russel J. & McLaren, Keith R. & Wong, Gary K. K., 2001. "On the empirical exploitation of consumers' profit functions in static analyses," Economics Letters, Elsevier, vol. 72(2), pages 181-187, August.
    6. Cooper, Russel J., 1994. "On the exploitation of additional duality relationships in consumer demand analysis," Economics Letters, Elsevier, vol. 44(1-2), pages 73-77.
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    Cited by:

    1. Sproule, Robert, 2023. "The Anomalies Of The Wold-Juréen (1953) Functional Form In Overview," MPRA Paper 117835, University Library of Munich, Germany.
    2. José Ignacio Gimenez-Nadal, 2018. "The Substitution Effect from the Profit Function in Consumption: Expressions from the Marshallian, Hicksian, and Frischian demand functions," Economics and Business Letters, Oviedo University Press, vol. 7(3), pages 92-97.

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    More about this item

    Keywords

    Consumer theory; Frischian profit function; Frischian demand function; Price of utility;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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