What are the four primary determinants of demand for an asset? Which of those determinants would be affected by an increase in the current price of an asset, all else equal?

The four primary determinants of demand for an asset are price, income, expectations, and substitutability. An increase in the current price of an asset would affect all of these factors in different ways. Firstly, a rise in price would decrease the demand for that particular asset due to people being unable to afford it; it could also lead to a shift from investing in that asset to a substitute as individuals look for cheaper options. Additionally, this change could potentially have psychological consequences as well – leading investors to become wary about investing in such expensive assets and thus impacting their overall investment decisions.

Moreover, an increase in price may also lead people to rethink their expectations about the future performance of that investment. If prices reach higher levels than previously anticipated then this might lower investor confidence levels and make them more likely to pursue other opportunities instead. Finally, with increased prices buyers will be more cautious when considering purchasing any item – meaning they may take longer to assess each possible purchase before making a decision or look at alternatives which offer improved value for money. All these various factors can contribute to a decline or even elimination of demand for certain types of assets if prices exceed reasonable levels.