The CES is generalized by extension of the work of Hanoch (1975) resulting in implicit, direct and indirect relationships between utility and consumption. Expressions for substitution and income elasticities are developed and observed to be variable, rather than constant as in the CES case.Constant elasticity of substitution, implicit functions, preferences, demand

John Cranfield

Paul Preckel

Thomas Hertel

English

Research Papers in Economics

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This matrix of partial substitution elasticities has exactly the same form as in Hanoch

Implicit Additive Preferences: A Further Generalization of the CES

http://ageconsearch.umn.edu/bitstream/28646/1/sp050003.pdf

Implicit Additive Preferences: A Further Generalization of the CES

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Research Papers in Economics