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Advantageous redistribution with three smooth CES utility functions

We present a parametric example of three-country advantageous redistribution with two Cobb–Douglas utility functions and one CES utility function for which the elasticity of substitution is 1/2. This paper indicates that the possibility of advantageous redistribution strongly depends on the three co... Full description

Journal Title: Journal of Mathematical Economics December 2016, Vol.67, pp.171-180
Main Author: Kang, Minwook
Other Authors: Ye, Lei Sandy
Format: Electronic Article Electronic Article
Language: English
Subjects:
ID: ISSN: 0304-4068 ; DOI: 10.1016/j.jmateco.2016.08.002
Link: https://www.sciencedirect.com/science/article/pii/S0304406816300921
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recordid: elsevier_sdoi_10_1016_j_jmateco_2016_08_002
title: Advantageous redistribution with three smooth CES utility functions
format: Article
creator:
  • Kang, Minwook
  • Ye, Lei Sandy
subjects:
  • Advantageous Redistribution
  • Transfer Paradox
  • Ces Utility
  • Economics
  • Mathematics
ispartof: Journal of Mathematical Economics, December 2016, Vol.67, pp.171-180
description: We present a parametric example of three-country advantageous redistribution with two Cobb–Douglas utility functions and one CES utility function for which the elasticity of substitution is 1/2. This paper indicates that the possibility of advantageous redistribution strongly depends on the three countries’ taste patterns, endowment distributions, and the elasticity of substitution. In particular, we will show with specific examples that greater difference between the donor and recipient’s taste patterns and a lower elasticity of substitution can increase the chance of advantageous redistribution.
language: eng
source:
identifier: ISSN: 0304-4068 ; DOI: 10.1016/j.jmateco.2016.08.002
fulltext: no_fulltext
issn:
  • 0304-4068
  • 03044068
url: Link


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titleAdvantageous redistribution with three smooth CES utility functions
creatorKang, Minwook ; Ye, Lei Sandy
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identifierISSN: 0304-4068 ; DOI: 10.1016/j.jmateco.2016.08.002
subjectAdvantageous Redistribution ; Transfer Paradox ; Ces Utility ; Economics ; Mathematics
descriptionWe present a parametric example of three-country advantageous redistribution with two Cobb–Douglas utility functions and one CES utility function for which the elasticity of substitution is 1/2. This paper indicates that the possibility of advantageous redistribution strongly depends on the three countries’ taste patterns, endowment distributions, and the elasticity of substitution. In particular, we will show with specific examples that greater difference between the donor and recipient’s taste patterns and a lower elasticity of substitution can increase the chance of advantageous redistribution.
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We present a parametric example of three-country advantageous redistribution with two Cobb–Douglas utility functions and one CES utility function for which the elasticity of substitution is 1/2. This paper indicates that the possibility of advantageous redistribution strongly depends on the three countries’ taste patterns, endowment distributions, and the elasticity of substitution. In particular, we will show with specific examples that greater difference between the donor and recipient’s taste patterns and a lower elasticity of substitution can increase the chance of advantageous redistribution.

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