Demand aggregation and the weak axiom of stochastic revealed preference.
We address the problem of aggregating demand across a group of consumers, who are identical in terms of wealth and face identical price vectors, but vary in their chosen consumption bundles. We show that, when a stochastic demand function is constructed to aggregate a number of deterministic demand...
| Publicado en: | Journal of Economic Theory Vol. 107; no. 2; pp. 483 - 490 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Academic Press Inc.
December 2002
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=513159639&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 513159639 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00220531 RTH jtl: Journal of Economic Theory issn: 00220531 maglogo: N pubinfo: dt: December 2002 vid: 107 iid: 2 pid: 735 pub: Academic Press Inc. artinfo: ui: 513159639 10.1006/jeth.2001.2948 ppf: 483 ppct: 7 formats: tig: atl: Demand aggregation and the weak axiom of stochastic revealed preference. aug: au: Bandyopadhyay, Taradas Bandyopadhyay, Bandyopadhyay Pattanaik, Prasanta K. su: Economic demand Consumer preferences Mathematical models Stochastic processes sug: subj: Economic demand Consumer preferences Mathematical models Stochastic processes ab: We address the problem of aggregating demand across a group of consumers, who are identical in terms of wealth and face identical price vectors, but vary in their chosen consumption bundles. We show that, when a stochastic demand function is constructed to aggregate a number of deterministic demand functions, satisfaction of the weak axiom of stochastic revealed preference by this stochastic demand function is weaker than the restriction that every underlying deterministic demand function satisfy Samuelson's weak axiom of revealed preference. Journal of Economic Literature Classification Number: D11. |Sc 2002 Elsevier Science (USA). pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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