J.M. Grandmont claims in his paper "Transformations of the Commodity Space, Behavioral Heterogeneity, and the Aggregation Problem" (1992) to model "behavioral heterogeneity". By a specific parametrization he defines a subset of all demand functions and assumes that the distribution of the...

A notion of ''behavioral heterogeneity'' of a finite population of households is modelled. It is shown that the higher the degree of behavioral heterogeneity the less sensitive depends the aggregate consumption expenditure ratio upon prices.As a consequence, behavioral heterogeneity implies a...

The following question is analyzed: under what circumstances can one a stable (i.e., time invariant) functional relationship which links aggregate consumption in period t with aggregate income in period t and another "determinants" of consumtion that refer to periods prior to period t and can be...