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Carvajal, Andrés M. and Riascos, Alvaro. (2005) Identification of preferences from market data. Advances in Theoretical Economics, Vol.5 (No.1). ISSN 1935-1704
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Official URL: http://dx.doi.org/10.2202/1534-5963.1195
Abstract
We offer a new proof that the equilibrium manifold (under complete markets) identifies individual demands globally. Moreover, under observation of only a subset of the equilibrium manifold, we find domains on which aggregate and individual demands are identifiable. Our argument avoids the assumption of Balasko (2004) requiring the observation of the complete manifold.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Social Sciences > Economics |
| Library of Congress Subject Headings (LCSH): | Consumers' preferences, Consumption (Economics), Equilbrium manifold |
| Journal or Publication Title: | Advances in Theoretical Economics |
| Publisher: | Berkeley Electronic Press |
| ISSN: | 1935-1704 |
| Date: | 2005 |
| Volume: | Vol.5 |
| Number: | No.1 |
| Identification Number: | 10.2202/1534-5963.1195 |
| Status: | Not Peer Reviewed |
| Funder: | Banco de la República de Colombia, Instituto de Matematicas Puras e Aplicadas (IMPA) |
| Related URLs: | |
| References: | Balasko, Y. (2004). The equilibrium manifold keeps the memory of individual demand functions. Economic Theory 24, pp.493-501. Blanks, J., Blundell, R. and Lewbel, A. (1997). Quadratic Engel curves and consumer demand. The Review of Economics and Statistics 79, pp.527-539. Carvajal, A., Ray, I. and Snyder, S. (2004). Equilibrium behavior in markets and games: testable restrictions and identification. Journal of Mathematical Economics 40, pp.1-40. Chiappori, P.-A., Ekeland, I., Kubler, F. and Polemarchakis, H. (2004). Testable implications of general equilibrium theory: a differentiable approach. Journal of Mathematical Economics 40, pp.105-119. Lewbel, A. (2003). A rational rank four demand system. Journal of Applied Econometrics 18, pp.127-135. MasColell, A. (1977). On the recoverability of consumers’ preferences from market demand behavior. Econometrica 45, pp.1409-1430. Matzkin, R. (2005). Identification of consumers’ preferences when their choices are unobservable. Economic Theory 25, pp.423-443. |
| URI: | http://wrap.warwick.ac.uk/id/eprint/6 |
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