On behavioral heterogeneity
An index of “behavioral heterogeneity” for every finite population of households is defined. It is shown that the higher the index of behavioral heterogeneity the less sensitive depends the aggregate consumption expenditure ratio upon prices. As a consequence, a high index implies a tendency for the Jacobian of aggregate demand to have a dominant negative diagonal. Copyright Springer-Verlag Berlin/Heidelberg 2005
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Volume (Year): 25 (2005)
Issue (Month): 1 (01)
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