Title

Comparative Statics and Asset Substitutability/Complementarity in a Portfolio Model: A Dual Approach

Abstract

This article uses a dual approach to investigate the properties of an n-asset portfolio model. The indirect expected utility and expenditure functions are used to provide an extremely simple derivation of Slutsky equations by obtaining results similar to Roy's Identity and Shephard's Lemma. The substitutability/complementarity relations among assets are investigated, and a number of empirically testable implications are deduced from the properties of the expenditure function.

Department(s)

Economics

Document Type

Article

DOI

10.2307/2297421

Publication Date

1983

Recommended Citation

Dalal, Ardeshir J. "Comparative statics and asset substitutability/complementarity in a portfolio model: a dual approach." The Review of Economic Studies 50, no. 2 (1983): 355-367.

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