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The characterization of demand and excess demand functions, revisited

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  • Marwan Aloqeili

    (Birzeit University)

Abstract

In this note, the characterization problem of individual demand and excess demand functions is revisited. It is assumed that the individual’s income is price dependent. When the income function is homogeneous of degree one, we show that similar conditions characterize both demand and excess demand functions.

Suggested Citation

  • Marwan Aloqeili, 2020. "The characterization of demand and excess demand functions, revisited," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 43(2), pages 691-707, December.
    • Handle: RePEc:spr:decfin:v:43:y:2020:i:2:d:10.1007_s10203-020-00303-w
    DOI: 10.1007/s10203-020-00303-w
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    References listed on IDEAS

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    1. Geanakoplos, J D & Polemarchakis, H M, 1980. "On the Disaggregation of Excess Demand Functions," Econometrica, Econometric Society, vol. 48(2), pages 315-331, March.
    2. Mantel, Rolf R., 1976. "Homothetic preferences and community excess demand functions," Journal of Economic Theory, Elsevier, vol. 12(2), pages 197-201, April.
    3. Chiappori, P. A. & Ekeland, I., 2004. "Individual excess demands," Journal of Mathematical Economics, Elsevier, vol. 40(1-2), pages 41-57, February.
    4. Marwan Aloqeili, 2005. "On the characterization of excess demand functions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(1), pages 217-225, July.
    5. Heraklis M. Polemarchakis, 1983. "Homotheticity and the Aggregation of Consumer Demands," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(2), pages 363-369.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Individual demand; Excess demand; Homogeneous functions; Slutsky matrix;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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