Mean demand when consumers satisfy the weak axiom of revealed preference (Q1262814)
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English | Mean demand when consumers satisfy the weak axiom of revealed preference |
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Mean demand when consumers satisfy the weak axiom of revealed preference (English)
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1989
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The two theorems of this paper extend previously known results on the aggregation of consumer demand. The first theorem shows that any continuous, homogeneous of degree zero, and budget consistent demand function can be viewed as an average of \(\ell\) suitable regular demand functions, where \(\ell\) is the number of commodities. The second theorem shows that an analogous result holds (but only locally) when the individual demands are constrained to be nonnegative.
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mean demand
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weak axiom of revealed preference
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aggregation of consumer demand
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