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The Monotonicity of Individual and Market Demand

Author

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  • Quah, J-K-H

Abstract

This paper studies the interplay between two types of conditions guaranteeing the monotonicity of market demand : conditions on individual preferences and conditiosn on the distribution of income.

Suggested Citation

  • Quah, J-K-H, 1996. "The Monotonicity of Individual and Market Demand," Economics Papers 127, Economics Group, Nuffield College, University of Oxford.
  • Handle: RePEc:nuf:econwp:127
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    References listed on IDEAS

    as
    1. Debreu, Gerard, 1974. "Excess demand functions," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 15-21, March.
    2. Kannai, Yakar, 1977. "Concavifiability and constructions of concave utility functions," Journal of Mathematical Economics, Elsevier, vol. 4(1), pages 1-56, March.
    3. Debreu, Gerard, 1976. "Least concave utility functions," Journal of Mathematical Economics, Elsevier, vol. 3(2), pages 121-129, July.
    4. Muellbauer, John, 1976. "Community Preferences and the Representative Consumer," Econometrica, Econometric Society, vol. 44(5), pages 979-999, September.
    5. Hildenbrand, Werner, 1983. "On the "Law of Demand."," Econometrica, Econometric Society, vol. 51(4), pages 997-1019, July.
    6. Polterovich, Victor & Mityushin, Leonid, 1978. "Criteria for Monotonicity of Demand Functions," MPRA Paper 20097, University Library of Munich, Germany.
    7. John Muellbauer, 1975. "Aggregation, Income Distribution and Consumer Demand," Review of Economic Studies, Oxford University Press, vol. 42(4), pages 525-543.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Chiappori, P. -A. & Ekeland, I. & Kubler, F. & Polemarchakis, H. M., 2004. "Testable implications of general equilibrium theory: a differentiable approach," Journal of Mathematical Economics, Elsevier, vol. 40(1-2), pages 105-119, February.
    2. Donald J. Brown & Caterina Calsamiglia, 2003. "Rationalizing and Curve-Fitting Demand Data with Quasilinear Utilities," Cowles Foundation Discussion Papers 1399R, Cowles Foundation for Research in Economics, Yale University, revised Jul 2004.
    3. Juan Martínez-Legaz & John Quah, 2007. "A contribution to duality theory, applied to the measurement of risk aversion," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(2), pages 337-362, February.
    4. John Quah, 2001. "Comparative Statics of the Weak Axiom," Economics Papers 2001-W3, Economics Group, Nuffield College, University of Oxford.
    5. Yakar Kannai & Larry Selden, 2014. "Violation of the Law of Demand," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(1), pages 1-28, January.
    6. repec:spr:etbull:v:2:y:2014:i:1:d:10.1007_s40505-014-0029-5 is not listed on IDEAS
    7. Larsson, Lars-Göran, 2010. "General Properties of Expected Demand Functions: Negativity (No Giffen Good) and Homogeneity - A Descriptive Non Utility Maximizing Approach," Working Papers in Economics 469, University of Gothenburg, Department of Economics.
    8. Donald J. Brown & Chris Shannon, 2000. "Uniqueness, Stability, and Comparative Statics in Rationalizable Walrasian Markets," Econometrica, Econometric Society, vol. 68(6), pages 1529-1540, November.
    9. Franks, Edwin & Bryant, William D.A., 2017. "The Uncompensated Law of Demand: A ‘Revealed Preference’ approach," Economics Letters, Elsevier, vol. 152(C), pages 105-111.
    10. Peter Moffatt & Keith Moffatt, 2011. "Mirror utility functions and reflexion properties of various classes of goods," University of East Anglia Applied and Financial Economics Working Paper Series 031, School of Economics, University of East Anglia, Norwich, UK..
    11. John Quah, 2004. "The aggregate weak axiom in a financial economy through dominant substitution effects," Economics Papers 2004-W18, Economics Group, Nuffield College, University of Oxford.
    12. Larsson, Lars-Göran, 2009. "On the Law of Demand. - A mathematically simple descriptive approach for general probability density functions," Working Papers in Economics 396, University of Gothenburg, Department of Economics.
    13. Donald J Brown & Caterina Calsamiglia, 2007. "Marshall's Theory of Value and the Strong Law of Demand," Levine's Bibliography 843644000000000204, UCLA Department of Economics.
    14. Juan E. Martinez-Legaz & John K.-H. Quah, 2003. "Risk Aversion over Incomes and Risk Aversion over Commodities," Economics Papers 2003-W09, Economics Group, Nuffield College, University of Oxford.
    15. Larsson, Lars-Göran, 2012. "On Expected Demand Functions without Utility Maximization," Working Papers in Economics 527, University of Gothenburg, Department of Economics.
    16. Michael Jerison & John K.-H. Quah, 2006. "Law of Demand," Discussion Papers 06-07, University at Albany, SUNY, Department of Economics.
    17. Michael Jerison, 2001. "Demand Dispersion, Metonymy and Ideal Panel Data," Discussion Papers 01-11, University at Albany, SUNY, Department of Economics.

    More about this item

    Keywords

    DEMAND ; INCOME DISTRIBUTION;

    JEL classification:

    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models

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