General Properties of Expected Demand Functions: Negativity (No Giffen Good) and Homogeneity - A Descriptive Non Utility Maximizing Approach
In this paper we assume that choice of commodities at the individual (household) level is made in the budget set and that the choice can be described by a probability density function. We prove that negativity (()0xExp
|Date of creation:||17 Sep 2010|
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- Haerdle,W. Hildenbrand,W. Jerison,M., 1988.
"Empirical evidence on the law of demand,"
Discussion Paper Serie A
193, University of Bonn, Germany.
- Wolfgang Härdle & Werner Hildenbrand & Michael Jerison, 1989. "Empirical Evidence on the Law of Demand," Discussion Paper Serie A 264a, University of Bonn, Germany.
- HARDLE, Wolfgang & HILDENBRAND, Werner & JERISON, Michael, . "Empirical evidence on the law of demand," CORE Discussion Papers RP 968, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
- Hildenbrand, Werner, 1983. "On the "Law of Demand."," Econometrica, Econometric Society, vol. 51(4), pages 997-1019, July.
- Quah, J-K-H, 1996.
"The Monotonicity of Individual and Market Demand,"
127, Economics Group, Nuffield College, University of Oxford.
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