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...

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Bibliographic Details

Published in:	Journal of Economic Theory Vol. 107; no. 2; pp. 483 - 490
Main Authors:	Bandyopadhyay, Taradas, Bandyopadhyay, Bandyopadhyay, Pattanaik, Prasanta K.
Format:	Article
Published:	Academic Press Inc. December 2002
Subjects:	Economic demand Consumer preferences Mathematical models Stochastic processes
Online Access:	View this record in EBSCOhost