Title
Gross substitutes and Immiserizing Growth
Document Type
Article
Publication Date
1986
Publication Title
Economics Letters
Department
Economics
Abstract
In a pure exchange economy immiserizing growth occurs when an increase in the endowment of one trader results in a new equilibrium where that trader has lower utility. This paper demonstrates that such perverse behavior is ruled out when excess demands satisfy a particular gross substitute condition.
Volume
21
Issue
4
pp.
353-356
ISSN
0165-1765
WorldCat Link
Citation
Hands, Douglas Wade. 1986. "Gross Substitutes and Immiserizing Growth." Economics Letters 21(4): 353-356.
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