Work

Luxuries Are Easier to Postpone: A Proof

Year: 2000

Type: article

Abstract: We show that (Marshallian) income elasticities are proportional to (Frisch) own price elasticities if all goods are additively separable. This implies that luxuries are likely to be easier to postpone. It also implies that preferences over "consumption" are unlikely to display a constant elasticity of substitution.

Source: Journal of Political Economy

DOI: 10.1086/317668

Authors: Martin Browning, Thomas F. Crossley

Institutions: University of Copenhagen, Australian National University, York University, University of York

Language: English

Topic: Economics of Agriculture and Food Markets

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2058045019

FWCI: 6.033

Cites: 10

Cited by: 102

Related to: 10