Demand Functions and the Slutsky Matrix
Author: S. N. Afriat
Publisher:
Published: 1980-01-01
Total Pages: 282
ISBN-13: 9780608028767
DOWNLOAD EBOOKRead and Download eBook Full
Author: S. N. Afriat
Publisher:
Published: 1980-01-01
Total Pages: 282
ISBN-13: 9780608028767
DOWNLOAD EBOOKAuthor: Sydney N. Afriat
Publisher: Princeton University Press
Published: 2014-07-14
Total Pages: 283
ISBN-13: 1400853060
DOWNLOAD EBOOKThe utility idea has had a long history in economics, especially in the explanation of demand and in welfare economics. In a comprehensive survey and critique of the Slutsky theory and the pattern to which it belongs in the economic context, S. N. Afriat offers a resolution of questions central to its main idea, including sufficient conditions as well. Originally published in 1980. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Victor H. Aguiar
Publisher:
Published: 2022
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKThe Slutsky matrix function encodes all the information about local variations in demand with respect to small (Slutsky) compensated price changes. When the demand function is the result of utility maximization the Slutsky matrix is symmetric. However, symmetry does not imply rationality. Here, we provide a necessary and sufficient condition for Slutsky symmetry. The new condition requires symmetric attention to compensated price-paths.
Author: Donald W. Katzner
Publisher: [New York] : Macmillan
Published: 1970
Total Pages: 266
ISBN-13:
DOWNLOAD EBOOKAuthor: Tatsuo Hatta
Publisher:
Published: 1987
Total Pages: 28
ISBN-13:
DOWNLOAD EBOOKAuthor: Arthur Goldberger
Publisher: Routledge
Published: 2019-04-23
Total Pages: 135
ISBN-13: 0429713096
DOWNLOAD EBOOKThis book presents a review of classical consumer demand theory, emphasizing the form of utility and demand functions. The theory is developed in general terms with reference to the linear expenditure system and with reference to alternative specifications of complete sets of demand functions.
Author: Stanley R. Johnson
Publisher: Ames : Iowa State University Press
Published: 1984
Total Pages: 200
ISBN-13:
DOWNLOAD EBOOKAuthor: Victor Aguiar
Publisher:
Published: 2014
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKGiven any observed demand behavior by means of a demand function, we quantify by how much it departs from rationality. Using a recent elaboration of the "almost implies near" principle, the measure of the gap is the smallest norm of the correcting matrix that would yield a Slutsky matrix with its standard rationality properties (symmetry, singularity, and negative semi-definiteness). A useful classification of departures from rationality is suggested as a result. Variants, examples, and applications are discussed, and illustrations are provided using several bounded rationality models.
Author: Werner Hildenbrand
Publisher: Princeton University Press
Published: 2014-07-14
Total Pages: 216
ISBN-13: 1400863716
DOWNLOAD EBOOKIn a major work that is the culmination of over a decade of intensive research, Werner Hildenbrand presents a new theory of market demand, the principal aim of which is to identify the conditions under which the Law of Demand holds true. Hildenbrand argues that the Law of Demand is due mainly to the "heterogeneity" of the population of households. In his view, "rationality" of individual behavior plays only a minor role. While the traditional approach to the theory of market demand is to analyze the question, To what extent are the postulated properties of individual behavior preserved by going from individual to market demand?, this book asks the question, Which properties of the market demand function are created by the aggregation process?. Two hypotheses on the population of households play a key role in Hilden-brand's thinking. The first is the "increasing dispersion" and the second the "increasing spread" of households' demand. These hypotheses can easily be interpreted and are a priori plausible. For a positive theory of market demand, according to Hildenbrand, it is more important that the hypotheses are well supported by empirical evidence. His claims in this important new book are based on a nonparametric statistical data analysis of the U.K. Family Expenditure Survey and the French EnquĂȘte Budget de Famille. Originally published in 1994. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Felix Munoz-Garcia
Publisher: MIT Press
Published: 2017-08-11
Total Pages: 892
ISBN-13: 026234209X
DOWNLOAD EBOOKAn introduction to advanced topics in microeconomics that emphasizes the intuition behind assumptions and results, providing examples that show how to apply theory to practice. This textbook offers an introduction to advanced microeconomic theory that emphasizes the intuition behind mathematical assumptions, providing step-by-step examples that show how to apply theoretical models. It covers standard topics such as preference relations, demand theory and applications, producer theory, choice under uncertainty, partial and general equilibrium, monopoly, game theory and imperfect competition, externalities and public goods, and contract theory; but its intuitive and application-oriented approach provides students with a bridge to more technical topics. The book can be used by advanced undergraduates as well as Masters students in economics, finance, and public policy, and by PhD students in programs with an applied focus. The text connects each topic with recent findings in behavioral and experimental economics, and discusses these results in context, within the appropriate chapter. Step-by-step examples appear immediately after the main theoretical findings, and end-of chapter exercises help students understand how to approach similar exercises on their own. An appendix reviews basic mathematical concepts. A separate workbook, Practice Exercises for Advanced Microeconomic Theory, offers solutions to selected problems with detailed explanations. The textbook and workbook together help students improve both their theoretical and practical preparation in advanced microeconomics.