High Quality Content by WIKIPEDIA articles! The Slutsky equation (or Slutsky identity) in economics, named after Eugen Slutsky (1880-1948), relates changes in Marshallian demand to changes in Hicksian demand.Evgeny Evgenievich Slutsky or Eugen E. Slutsky was a Russian/Soviet mathematical statistician, economist and political economist.He ie is principally known for work in deriving the relationships embodied in the very well-known Slutsky equation which is widely used in microeconomic consumer theory for separating the substitution effect and the income effect of a price change on the total quantity of a good demanded following a price change in that good, or in a related good that may have a cross-price effect on the original good quantity. There are many Slutsky analogs in producer theory.

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