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Gross substitutes
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Gross substitutes : ウィキペディア英語版
Gross substitutes
The term gross substitutes is used in two slightly different meanings:
# In microeconomics, two commodities X and Y are called gross substitutes, if \frac > 0. I.e., an increase in the price of one commodity causes people to want ''strictly more'' of the other commodity, since the commodities can substitute each other (bus and taxi are a common example).
# In competitive equilibrium theory (general equilibrium theory), a valuation function is said to have the ''gross substitutes'' (GS) property if for all pairs of commodities: \frac\geq 0. I.e., the definition includes both substitute goods and independent goods, and only rules out complementary goods. See Utility functions on indivisible goods#Gross substitutes.
== References ==


抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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