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On J.M. Grandmont's Modelling of Behavioral Heterogeneity

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  • Hildenbrand, K.
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    Abstract

    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 parameters is getting more dispersed (increasing flatness of the density function). This increasing dispersedness of the parameters is interpreted as "increasing heterogeneity" of the population of households described by the distribution of demand functions. But, due to the specific parametrization, increasing dispersedness of the parameters leads to an increasing concentration of the demand functions. Therefore, roughly speaking, Grandmont rather models increasing "behavioral similarity".

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    File URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonsfa/bonsfa580.pdf
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    Bibliographic Info

    Paper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number 580.

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    Length: pages
    Date of creation: Jul 1998
    Date of revision:
    Handle: RePEc:bon:bonsfa:580

    Contact details of provider:
    Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
    Fax: +49 228 73 6884
    Web page: http://www.bgse.uni-bonn.de

    Related research

    Keywords: Aggregate Demand; Aggregation; Behavioral Heterogeneity;

    This paper has been announced in the following NEP Reports:

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    Cited by:
    1. E. B. de Villemeur, 1999. "Aggregation of demand and distribution of characteristics : A difficulty in modelling behavioural heterogeneity," THEMA Working Papers 99-38, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    2. Isabelle MARET, 2001. "Modeling Behavioral Heterogeneity in Demand Theory," Working Papers of BETA 2001-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    3. Isabelle MARET, 2002. "Modeling Behavioral Heterogeneity in Demand Theory," Working Papers of BETA 2002-05, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    4. Gael GIRAUD & Isabelle MARET, 2002. "Modelling Behavioral Heterogeneity," Working Papers of BETA 2002-22, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    5. Gael Giraud & Isabelle Maret, 2002. "Behavioral Heterogeneity in Large Economies," Working Papers of BETA 2002-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.

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