Identification of individual demands from market data under uncertainty
Carvajal, Andrés M. and Riascos, Alvaro. (2008) Identification of individual demands from market data under uncertainty. B.E. Journal of Theoretical Economics, Vol.8 (No.1). pp. 1-30. ISSN 1935-1704
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Official URL: http://dx.doi.org/10.2202/1935-1704.1420
We show that, even under incomplete markets, the equilibrium manifold identifies individual demands everywhere in their domains. Under partial observation of the manifold, we determine maximal subsets of the domains on which identification holds. For this, we assume conditions of smoothness, interiority and regularity. It is crucial that there be date-zero consumption. As a by-product, we develop some duality theory under incomplete markets.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HB Economic Theory|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Consumer economics, Incomplete markets, Equilibrium (Economics)|
|Journal or Publication Title:||B.E. Journal of Theoretical Economics|
|Publisher:||Berkeley Electronic Press|
|Page Range:||pp. 1-30|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
Balasko, Y. (2004). The equilibrium manifold keeps the memory of individual demand functions. Economic Theory 24, 493-501.
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