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Single-Valuedness of the Demand Correspondence and Strict Convexity of Preferences: An Equivalence Result

Author

Listed:
  • Ennio Bilancini

  • Leonardo Boncinelli

Abstract

If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and B¨ohm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.

Suggested Citation

  • Ennio Bilancini & Leonardo Boncinelli, 2009. "Single-Valuedness of the Demand Correspondence and Strict Convexity of Preferences: An Equivalence Result," Center for Economic Research (RECent) 035, University of Modena and Reggio E., Dept. of Economics "Marco Biagi".
    • Handle: RePEc:mod:recent:035
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    Cited by:

    1. Theodoros Diasakos & Georgios Gerasimou, 2017. "Preference Conditions for Invertible Demand Functions," Discussion Paper Series, School of Economics and Finance 201708, School of Economics and Finance, University of St Andrews, revised 23 Aug 2019.

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    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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