Optimal income distribution rules and representative consumers.

This paper derives observable properties of economies with optimal income distribution rules that specify consumers' incomes as functions of aggregate income and prices. Optimality implies that the aggregate demand function is generated by a single “representative” consumer, cf. Samuelson (1956)....

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Bibliographic Details

Published in:	Review of Economic Studies Vol. 61; pp. 739 - 772
Main Author:	Jerison, Michael
Format:	Article
Published:	Oxford University Press / UK October 1994
Subjects:	Mathematical models of income distribution Economic demand Consumer preferences Mathematical models
Online Access:	View this record in EBSCOhost