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Identification of Preferences from Market Data

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Author Info
Andrés Carvajal (Cowles Foundation for Research in Economics, Yale University, and Department of Economics, Royal Holloway College, University of London)
Alvaro Riascos (Banco de la República, Universidad Nacional de Colombia and Universidad de los Andes)

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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.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Advances in Theoretical Economics.

Volume (Year): 5 (2005)
Issue (Month): 1 ()
Pages: 1195-1195
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Handle: RePEc:bep:theadv:v:5:y:2005:i:1:p:1195-1195

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Related research
Keywords: General equilibrium consumer demand identification

Find related papers by JEL classification:
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Chiappori, P. -A. & Ekeland, I. & Kubler, F. & Polemarchakis, H. M., 2004. "Testable implications of general equilibrium theory: a differentiable approach," Journal of Mathematical Economics, Elsevier, vol. 40(1-2), pages 105-119, February. [Downloadable!] (restricted)
    Other versions:
  2. Arthur Lewbel, 2000. "A Rational Rank Four Demand System," Boston College Working Papers in Economics 463, Boston College Department of Economics, revised 04 Apr 2003. [Downloadable!]
    Other versions:
  3. Carvajal, Andres & Ray, Indrajit & Snyder, Susan, 2004. "Equilibrium behavior in markets and games: testable restrictions and identification," Journal of Mathematical Economics, Elsevier, vol. 40(1-2), pages 1-40, February. [Downloadable!] (restricted)
  4. James Banks & Richard Blundell & Arthur Lewbel, 1997. "Quadratic Engel Curves And Consumer Demand," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 527-539, November. [Downloadable!] (restricted)
  5. Mas-Colell, Andreu, 1977. "The Recoverability of Consumers' Preferences from Market Demand Behavior," Econometrica, Econometric Society, vol. 45(6), pages 1409-30, September. [Downloadable!] (restricted)
  6. Yves Balasko, 2004. "The equilibrium manifold keeps the memory of individual demand functions," Economic Theory, Springer, vol. 24(3), pages 493-501, October. [Downloadable!] (restricted)
  7. Rosa Matzkin, 2005. "Identification of consumers’ preferences when their choices are unobservable," Economic Theory, Springer, vol. 26(2), pages 423-443, 08. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Andres Carvajal & Alvaro Riascos, 2008. "Identification of Individual Demands from Market Data under Uncertainty," Topics in Theoretical Economics, Berkeley Electronic Press, vol. 8(1), pages 1420-1420. [Downloadable!] (restricted)
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