AbstractA 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 tendency for the Jacobian of aggregate demand to have a negation dominant diagonal.
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Bibliographic InfoPaper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number 589.
Date of creation: Mar 1999
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Aggregation; behavioral heterogeneity; mean demand;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-1999-03-22 (All new papers)
- NEP-EVO-1999-04-13 (Evolutionary Economics)
- NEP-MIC-1999-03-22 (Microeconomics)
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- repec:ebl:ecbull:v:4:y:2003:i:25:p:1-8 is not listed on IDEAS
- Gaël GIRAUD & Isabelle MARET, 2005.
"The Exact Insensitivity of Market Budget Shares and the 'Balancing Effect',"
Working Papers of BETA
2005-02, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Gaël Giraud & Isabelle Maret, 2007. "The exact insensitivity of market budget shares and the "balancing effect"," Documents de travail du Centre d'Economie de la Sorbonne b07023, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Isabelle MARET, 2002. "Modeling Behavioral Heterogeneity in Demand Theory," Working Papers of BETA 2002-05, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Keenan, Donald C., 2001. "Aggregate Substitution Effects Implying Global Stability," Journal of Economic Theory, Elsevier, vol. 101(1), pages 317-329, November.
- Isabelle MARET, 2001. "Modeling Behavioral Heterogeneity in Demand Theory," Working Papers of BETA 2001-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
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