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Aggregation under Complete Markets Author info | Abstract | Publisher info | Download info | Related research | Statistics Masao Ogaki (Ohio State University)
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This paper proves a complete market aggregation result for a multiple good economy in which the consumers have time-additive, von Neumann–Morgenstern utility functions. This result applies to all concave intraperiod functions, and provides a contrast to many of the results in the microeconomics literature which depend on such stringent assumptions as linear Engel curves (Copyright: Elsevier)
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics .
Volume (Year): 6 (2003)
Issue (Month): 4 (October)
Pages: 977-986
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Handle: RePEc:red:issued:v:6:y:2003:i:4:p:977-986Contact details of provider: Postal: Review of Economic Dynamics Academic Press Editorial Office 525 "B" Street, Suite 1900 San Diego, CA 92101 Fax: 1-860-486-4463 Email: Web page: http://www.EconomicDynamics.org/review.htm More information through EDIRC
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Keywords: Aggregate demand function ; Complete markets ; Other versions of this item:
Find related papers by JEL classification: E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
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