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Local disaggregation of demand and excess demand functions: a new question

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Author Info

  • Pierre-André Chiappori

    (University of Chicago)

  • Ivar Ekeland

    (Université Paris-Dauphine)

  • Martin Browning

    (Institute of Economics, University of Copenhagen)

Abstract

The literature on the characterization of aggregate excess and market demand has generated three types of results: global, local, or 'at a point'. In this note, we study the relationship between the last two approaches. We prove that within the class of functions satisfying standard conditions and whose Jacobian matrix is negative semi-definite, only n/2 + 1 agents are needed for the 'at' decomposition. We ask whether, within the same class, the 'around' decomposition also requires only n/2 + 1 agents.

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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 99-09.

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Length: 10 pages
Date of creation: Jan 1999
Date of revision:
Handle: RePEc:kud:kuiedp:9909

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Keywords: aggregation; market demand functions;

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Cited by:
  1. Anyck Dauphin & Abdel-Rahmen El Lahga & Bernard Fortin & Guy Lacroix, 2004. "Choix de consommation des ménages en présence de plusieurs décideurs," Cahiers de recherche 0433, CIRPEE.

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