The Morishima Gross elasticity of substitution

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Blackorby, Charles ; Primont, Daniel ; Russell, R. Robert (2007)
  • Publisher: University of Warwick, Department of Economics
  • Subject: HB

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 Blacko... View more
  • References (9)

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    Bertoletti, P. “The Allen/Uzawa Elasticity of Substitution as a Measure of Gross Input Substitutability.” (2001) Rivista italiana degli economisti 6, 87-94.

    Bertoletti, P. “Elasticities of Substitution and Complementarity” A Synthesis.” (2005). Journal of Productivity Analysis 24, 183-196.

    Blackorby, C., and R. R. Russell. “The Partial Elasticity of Substitution.” (1975). Discussion Paper No. 75-1, Department of Economics, University of California, San Diego.

    Blackorby, C., and R. R. Russell. “The Morishima Elasticity of Substitution: Symmetry, Constancy, Separability, and Its Relationship to the Hicks and Allen Elasticities.” (1981). Review of Economic Studies 48, 147-158.

    Blackorby, C., and R. R. Russell. “Will the Real Elasticity of Substitution Please Stand Up?.” (1989). American Economic Review 79, 882-888.

    Davis, G. C., and C. R. Shumway. “To Tell the Truth about Interpreting the Morishima Elasticity of Substitution.” (1996). Canadian Journal of Agricultural Economics 44, 173-182.

    Hicks, J. R. The Theory of Wages. (1932). London: Macmillan.

    Kim, H. Y. “The Antonelli Versus Hicks Elasticity of Complementarity and Inverse Input Demand Systems.” (2000). Australian Economic Papers 39, 245-261.

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