Price-dispersed preferences and C^ 1 mean demand

DOI10.1016/0304-4068(84)90022-3MaRDI QIDQ1065692zbMATH OpenOpenAlexFDO

Authors Egbert Dierker, Hildegard Dierker, Walter Trockel

Publication date 1984

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0304-4068(84)90022-3

zbMATH Keywords

Fubini TheoremHaar measureMorin singularitiessmoothing demand by aggregation

Mathematics Subject Classification ID

Singularities of differentiable mappings in differential topology (57R45) Utility theory (91B16)

Review text

This paper belongs to the literature on smoothing demand by aggregation. This branch of the mathematical economics literature was opened by \textit{G. Debreu} [Econometrica 40, 603-615 (1972; Zbl 0258.90007)] who asked for conditions on consumer characteristics under which the mean demand is differentiable even if the individual consumer demands are not. The principal result of this paper presents such conditions without stipulating that consumers' preferences are parametrized to form a finite dimensional space as in the work of Araujo-Mas-Colell, Yamazaki, Hildenbrand and Sondermann. The highlights of the authors' approach is a reliance on the Fubini Theorem, the Haar measure and on Morin singularities. For details, we refer the reader to this interesting paper.

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Cites work

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Cited in

(11)

• On uniform local dispersion on a family of G-orbits
• Transformations of the commodity space, behavioral heterogeneity, and the aggregation problem
• Behavioral heterogeneity and structural properties of aggregate demand
• Mathematik in der Wirtschaftstheorie am Beispiel der Struktur der Marktnachfrage
• Cobb-Douglas preferences under uncertainty
• Distribution of preferences and measurement errors in a disaggregated expenditure system
• Market demand by non-convex preferences
• Consumer's response to price distribution and \(\sigma\)-overload under time allocation
• Behavioral heterogeneity Pareto distributions of homothetic preference scales and aggregate expenditures income elasticities
• Classification of budget-invariant monotonic preferences
• Heterogeneous demand responses to discrete price changes: an application to the purchase of lottery tickets

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