Hicksian demand
E204381
Hicksian demand is a concept in microeconomics that describes how a consumer’s demand for goods changes when prices vary while holding utility (satisfaction) constant, often used in welfare and consumer theory.
All labels observed (6)
How this entity was disambiguated
This entity first appeared as the object of triple T1814790 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Hicksian demand Context triple: [John R. Hicks, knownFor, Hicksian demand]
-
A.
Hotelling’s lemma
Hotelling’s lemma is a result in microeconomics that links a firm’s profit function to its supply and factor demand functions via partial derivatives.
-
B.
Pareto efficiency
Pareto efficiency is an economic concept describing an allocation of resources where no individual can be made better off without making someone else worse off.
-
C.
“New Methods of Measuring Marginal Utility”
“New Methods of Measuring Marginal Utility” is a pioneering work in econometrics by Ragnar Frisch that develops formal techniques for empirically estimating consumers’ marginal utilities.
-
D.
Karush–Kuhn–Tucker conditions
The Karush–Kuhn–Tucker conditions are fundamental optimality criteria in nonlinear programming that generalize Lagrange multipliers to handle inequality constraints.
-
E.
Frisch elasticity of labor supply
The Frisch elasticity of labor supply is an economic measure that captures how responsive individuals’ labor supply is to changes in wages when their expected lifetime wealth is held constant.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Hicksian demand Target entity description: Hicksian demand is a concept in microeconomics that describes how a consumer’s demand for goods changes when prices vary while holding utility (satisfaction) constant, often used in welfare and consumer theory.
-
A.
Hotelling’s lemma
Hotelling’s lemma is a result in microeconomics that links a firm’s profit function to its supply and factor demand functions via partial derivatives.
-
B.
Pareto efficiency
Pareto efficiency is an economic concept describing an allocation of resources where no individual can be made better off without making someone else worse off.
-
C.
“New Methods of Measuring Marginal Utility”
“New Methods of Measuring Marginal Utility” is a pioneering work in econometrics by Ragnar Frisch that develops formal techniques for empirically estimating consumers’ marginal utilities.
-
D.
Karush–Kuhn–Tucker conditions
The Karush–Kuhn–Tucker conditions are fundamental optimality criteria in nonlinear programming that generalize Lagrange multipliers to handle inequality constraints.
-
E.
Frisch elasticity of labor supply
The Frisch elasticity of labor supply is an economic measure that captures how responsive individuals’ labor supply is to changes in wages when their expected lifetime wealth is held constant.
- F. None of above. chosen
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
demand function
ⓘ
economic concept ⓘ |
| allowsToVary | income ⓘ |
| alsoKnownAs |
compensated demand
ⓘ
constant-utility demand ⓘ |
| appliesTo | individual consumer behavior ⓘ |
| assumes |
local non-satiation of preferences
ⓘ
stable and complete preferences ⓘ |
| canBeAggregatedTo | market Hicksian demand under certain conditions ⓘ |
| codomain | consumption bundles ⓘ |
| contrastedWith | Marshallian (uncompensated) demand ⓘ |
| contrastPropertyWith |
Marshallian demand holds income constant instead of utility
ⓘ
linked to:
Hicksian demand
|
| dependsOn |
consumer preferences
ⓘ
target utility level ⓘ vector of prices ⓘ |
| derivedFrom | expenditure minimization problem ⓘ |
| describes |
consumer demand for goods at constant utility
ⓘ
how demand changes when prices vary holding utility fixed ⓘ |
| domain |
feasible utility levels
ⓘ
positive price vectors ⓘ |
| field |
consumer theory
ⓘ
microeconomics ⓘ welfare economics ⓘ |
| holdsConstant | utility ⓘ |
| implies | Slutsky substitution matrix is negative semidefinite ⓘ |
| mathematicalForm | function h(p,u) mapping prices and utility to demanded bundles ⓘ |
| namedAfter |
John Hicks
ⓘ
linked to:
John R. Hicks
|
| optimizationProblem | minimize expenditure subject to achieving a given utility level ⓘ |
| originatedIn | Hicksian reformulation of demand theory ⓘ |
| property |
compensated price effects are purely substitution effects
ⓘ
homogeneous of degree zero in prices ⓘ satisfies Slutsky symmetry conditions ⓘ |
| relatedConcept |
Slutsky equation
ⓘ
linked to:
Slutsky
expenditure function ⓘ indirect utility function ⓘ |
| relatedTo | Marshallian demand ⓘ |
| requires | solution to a constrained optimization problem ⓘ |
| usedFor |
analyzing tax and price policy impacts on consumers
ⓘ
decomposing price effects into income and substitution components ⓘ |
| usedIn |
cost-of-living index theory
ⓘ
measurement of compensating variation ⓘ measurement of equivalent variation ⓘ welfare analysis ⓘ |
| usedToDefine | substitution effect of a price change ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Hicksian demand Description of subject: Hicksian demand is a concept in microeconomics that describes how a consumer’s demand for goods changes when prices vary while holding utility (satisfaction) constant, often used in welfare and consumer theory.
Referenced by (8)
Full triples — surface form annotated when it differs from this entity's canonical label.
Hicksian demand
→
contrastPropertyWith
→
Marshallian demand holds income constant instead of utility
ⓘ
linked to: Hicksian demand
linked to: Hicksian demand
linked to: Hicksian demand
Slutsky substitution matrix is negative semidefinite
→
equivalentTo
→
Hicksian demand satisfies the law of compensated demand
ⓘ
linked to: Hicksian demand
linked to: Hicksian demand