| 1. | The curves are convex to the origin, describing the negative substitution effect.
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| 2. | There will be no substitution effect . ( Hindriks, Myles, 2006 ).
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| 3. | To measure the effect, the income substitution effect must be considered.
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| 4. | The income and substitution effects are concepts in the consumer choice theory of microeconomics.
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| 5. | The Hicks substitution effect is illustrated in the next section.
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| 6. | This in turn gives rise to two conflicting tendencies of income and substitution effects.
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| 7. | Price changes that are due to substitution effects are subject to hedonic quality adjustments.
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| 8. | Some authors refer to one of these two concepts as simply the substitution effect.
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| 9. | The substitution effect is reinforced through the income effect of lower real income ( Beattie-LaFrance ).
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| 10. | This means demand for these goods is perfectly inelastic; the income effect equals the substitution effect.
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