Assigning Explanation Under Simultaneous Price and Preference Shifts

This article is part 2 of 4 in a series on the preference elasticity of demand. This article will include the following: Gains to Utility from Preference Shift Identify the Preference-Substitution Effect Identify the Preference-Income Effect Simultaneous Price and Preference Shift Total Quantity Explained by Factor The subsequent article will refine the explanatory assignment using … Read more

The Preference Elasticity of Demand: Overview and Motivation

Standard microeconomics includes a discussion on the Hicksian demand curve. This article extends a similar analysis to establish a post-Beckerian framework for the analysis of preference change. A big shoutout to Desmos which was used to create all of the graphs this post will contain. The series will proceed as follows: Overview and Motivation Assigning … Read more