Single-valuedness of the demand correspondence and strict convexity of preferences: An equivalence result
If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and Böhm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.
Year of publication: |
2010
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Authors: | Bilancini, Ennio ; Boncinelli, Leonardo |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 108.2010, 3, p. 299-302
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Publisher: |
Elsevier |
Keywords: | Strict convexity Strict monotonicity Demand correspondence Single-valuedness Demand function |
Saved in:
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