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
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- Wolfgang Härdle & Werner Hildenbrand & Michael Jerison, 1989.
"Empirical Evidence on the Law of Demand,"
Discussion Paper Serie A
264a, University of Bonn, Germany.
- Quah, J-K-H, 1996.
"The Monotonicity of Individual and Market Demand,"
127, Economics Group, Nuffield College, University of Oxford.
- Hildenbrand, Werner, 1983. "On the "Law of Demand."," Econometrica, Econometric Society, vol. 51(4), pages 997-1019, July.
- George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
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