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Weak Axiomatic Demand Theory

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Author Info
Quah, J.K.-H.

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Abstract

This paper gives a unified and simple treatment of three related questions in the demand theory of the weak axiom: (i) Is there an elementary, i.e., non-fixed point theoretic, proof of equilibrium existence when the excess demand function of an economy satisfies the weak axiom? (ii) What conditions are sufficient for a non-transitive preference to generate a continuous demand function? Note that such a demand must satisfy the weak, though not necessarily the strong, axiom. This motivates the next question. (iii) Given a function that satisfy the weak axiom, can we find a preference that generates it?

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Publisher Info
Paper provided by Economics Group, Nuffield College, University of Oxford in its series Economics Papers with number 2000-w12.

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Length: 38 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:nuf:econwp:2000-w12

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Web page: http://www.nuff.ox.ac.uk/economics/

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Related research
Keywords: DEMAND FUCTION ; REPRISENTATIVE AGENT ; TRANSITIVE PREFERENCES ; RATIONALIZABILITY;

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Find related papers by JEL classification:
A10 - General Economics and Teaching - - General Economics - - - General
D30 - Microeconomics - - Distribution - - - General

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. Fishburn, Peter C, 1991. " Nontransitive Preferences in Decision Theory," Journal of Risk and Uncertainty, Springer, vol. 4(2), pages 113-34, April.
  2. John K.-H. Quah, 2004. "The existence of equilibrium when excess demand obeys the weak axiom," Economics Papers 2004-W07, Economics Group, Nuffield College, University of Oxford. [Downloadable!]
    Other versions:
  3. Al-Najjar Nabil, 1993. "Non-transitive Smooth Preferences," Journal of Economic Theory, Elsevier, vol. 60(1), pages 14-41, June. [Downloadable!] (restricted)
  4. John K.-H. Quah, 1997. "The Law of Demand when Income Is Price Dependent," Econometrica, Econometric Society, vol. 65(6), pages 1421-1442, November.
  5. Kim, Taesung & Richter, Marcel K., 1986. "Nontransitive-nontotal consumer theory," Journal of Economic Theory, Elsevier, vol. 38(2), pages 324-363, April. [Downloadable!] (restricted)
  6. Bandyopadhyay, Taradas & Dasgupta, Indraneel & Pattanaik, Prasanta K., 1999. "Stochastic Revealed Preference and the Theory of Demand," Journal of Economic Theory, Elsevier, vol. 84(1), pages 95-110, January. [Downloadable!] (restricted)
  7. Laurent E. Calvet & Etienne Comon, 2000. "Behavioral Heterogeneity and The Income Effect," Harvard Institute of Economic Research Working Papers 1892, Harvard - Institute of Economic Research.
    Other versions:
  8. Loomes, Graham & Starmer, Chris & Sugden, Robert, 1991. "Observing Violations of Transitivity by Experimental Methods," Econometrica, Econometric Society, vol. 59(2), pages 425-39, March. [Downloadable!] (restricted)
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(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. John K.-H. Quah, 2004. "The existence of equilibrium when excess demand obeys the weak axiom," Economics Papers 2004-W07, Economics Group, Nuffield College, University of Oxford. [Downloadable!]
    Other versions:
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