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Identification of individual demands from market data under uncertainty

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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

Abstract

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

ISSN:

1935-1704

Official Date:

2008

Dates:

Date	Event
2008	Published

Volume:

Vol.8

Number:

No.1

Page Range:

pp. 1-30

Identification Number:

10.2202/1935-1704.1420

Status:

Not Peer Reviewed

Access rights to Published version:

Open Access

Related URLs:

Publisher

References:

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