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Quasimonotone individual demand correspondences are characterized as those which can be rationalized (in a weak sense) by a complete, upper continuous, monotone, and convex preference relation. Moreover, it is shown that an arbitrary set of demand observations can be rationalized by a reflexive,...
Persistent link: https://www.econbiz.de/10004968139
In order to model the concept of behavioral heterogeneity, some authors have employed the following approach. By using affine transformations of the price space, a consumption sector is defined as the set of all transformed demand functions of a given "generating" demand function. This leads to...
Persistent link: https://www.econbiz.de/10005225487