Not logged in.
Quick Search - Contribution
Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | A short and intuitive proof of Marshall's rule |
| Organization Unit | |
| Authors |
|
| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
|
| Journal Title | Economic Theory |
| Publisher | Springer |
| Geographical Reach | international |
| ISSN | 0938-2259 |
| Volume | 22 |
| Number | 2 |
| Page Range | 415 - 418 |
| Date | 2003 |
| Abstract Text | When the price of an input factor to a production process increases, then the optimal output level declines and the input is substituted by other factors. Marshall's rule is a formula that determines the own-price elasticity for one factor as a weighted sum of the elasticities of output market demand and factor substitution. This note offers a proof for Marshall's rule that is significantly shorter and somewhat more intuitive than existing derivations. |
| Digital Object Identifier | 10.1007/s00199-002-0291-x |
| PDF File |
Download from ZORA
|
| Export |
BibTeX
EP3 XML (ZORA)
|