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
https://doi.org/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.
Journal Title
The Review of Economic Studies
