Slutsky equation

English

Etymology

Named after Russian mathematical statistician and economist Eugen E. Slutsky.

Proper noun

the Slutsky equation

  1. (economics) An equation that relates changes in Marshallian (uncompensated) demand to changes in Hicksian (compensated) demand, designed to explore a consumer's response to changes in price.
    Synonym: Slutsky identity
    • 1972, Stanley Fischer, Econometrica, volume 40, number 2, page 371:
      This correspondence is then used in a derivation of Slutsky equations for assets.
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