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ERIC Number: ED085859
Record Type: RIE
Publication Date: 1973-Aug
Pages: 9
Abstractor: N/A
Reference Count: 0
The Influence of Lexicographic Preference Ordering on Relative Demands Under Alternative Price Ratios--A Graphical Presentation.
Ryder, Kenneth F., Jr.
This paper develops several theoretical implications of a lexicographic preference ordering and then examines the relevance of these results for resource allocation analyses in elementary and secondary education. Because of this unique ordering, no substitution effects are possible, and the income effects are constrained and influence the demand for only one good or factor. It appears possible to observe a relative decrease in the demand for the "favored" good or factor, even though both goods are normal or both factors have positive marginal products. If this model accurately reflects the preference ordering for local public school administrators, a standard economic analysis of the current crises in the teacher labor market could yield inappropriate conclusions regarding the adjustment process on the demand side. (Author/DN)
Publications Department, Rand Corporation, 1700 Main, Santa Monica, California 90406 ($0.50)
Publication Type: N/A
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: Rand Corp., Santa Monica, CA.