Slutsky equation
id:
slutsky-equation-299-11200297
title:
Slutsky equation
text:
In microeconomics, the Slutsky equation, named after Eugen Slutsky, relates changes in Marshallian (uncompensated) demand to changes in Hicksian (compensated) demand, which is known as such since it compensates to maintain a fixed level of utility. There are two parts of the Slutsky equation, namely the substitution effect, and income effect. In general, the substitution effect can be negative for consumers as it can limit choices. He designed this formula to explore a consumer's response as the
brand slug:
wiki
category slug:
encyclopedia
description:
Equation in economics
original url:
https://en.wikipedia.org/wiki/Slutsky_equation
date created:
date modified:
2024-02-15T05:32:05Z
main entity:
{"identifier":"Q431721","url":"https://www.wikidata.org/entity/Q431721"}
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fields total:
13
integrity:
14