Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Mar, 1972, Volume 40, Issue 2

Assets, Contingent Commodities, and the Slutsky Equations

https://www.jstor.org/stable/1909413
p. 371-385

Stanley Fischer

The relationship between the contingent commodity and asset approaches to consumer behavior under uncertainty is used in examining Slutsky equations for assets. The menu of assets describes an "attainable set" of contingent commodities; it is shown that a number of types of changes in the distributions of returns on assets leave this attainable set unaltered and that the effects of such changes in distributions on asset demands are simply related to the effects of a change in the asset price on demands.


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