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The Morishima gross elasticity of substitution
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Blackorby, Charles, 1937-, Primont, Daniel and Russell, R. Robert. (2007) The Morishima gross elasticity of substitution. Journal of Productivity Analysis, Vol.28 (No.3). pp. 203-208. ISSN 0895-562X
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Official URL: http://dx.doi.org/10.1007/s11123-007-0053-7
Abstract
We show that the Hotelling-Lau elasticity of substitution, an extension of the Allen-Uzawa elasticity to allow for optimal output-quantity (or utility) responses to changes in factor prices, inherits all of the failings of the Allen-Uzawa elasticity identified by Blackorby and Russell [(1989) Am Econ Rev 79: 882-888]. An analogous extension of the Morishima elasticity of substitution to allow for output quantity changes preserves the salient properties of the original Hicksian notion of elasticity of substitution.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HF Commerce H Social Sciences > HC Economic History and Conditions H Social Sciences |
| Divisions: | Faculty of Social Sciences > Economics |
| Journal or Publication Title: | Journal of Productivity Analysis |
| Publisher: | Springer New York LLC |
| ISSN: | 0895-562X |
| Date: | December 2007 |
| Volume: | Vol.28 |
| Number: | No.3 |
| Number of Pages: | 6 |
| Page Range: | pp. 203-208 |
| Identification Number: | 10.1007/s11123-007-0053-7 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| URI: | http://wrap.warwick.ac.uk/id/eprint/31342 |
Data sourced from Thomson Reuters' Web of Knowledge
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