Imagen de Portada
Código QR

Consumer Preferences, Linear Demand Functions and Aggregation in Competitive Asset Markets.

The paper has been divided into six sections; Section 1 surveys additive utility functions with linear Engel curves; Section 2 summarizes the Gorman, representative-consumer theorem; Section 3 translates the theorems of the previous sections into the Arrow-Debreu complete market model and obtains pa...

Descripción completa

Publicado en:Review of Economic Studies Vol. 46; no. 3; pp. 407 - 418
Autor principal: Milne, Frank
Formato: Artículo
Publicado: Oxford University Press / USA Jul79
Materias:
Economics
Markets
Commerce
Consumer preferences
Consumer behavior
Economic demand
Securities
Utility functions
Econometric models
Mathematical economics
Acceso en línea:Ver este registro en EBSCOhost
Sumario:The paper has been divided into six sections; Section 1 surveys additive utility functions with linear Engel curves; Section 2 summarizes the Gorman, representative-consumer theorem; Section 3 translates the theorems of the previous sections into the Arrow-Debreu complete market model and obtains particular cases for the more general results; Section 4 considers a two period incomplete market model and the aggregation theorem; Section 5 extends the analysis to many periods; and Section 6 provides some general concluding comments.