IDEAS home Printed from https://ideas.repec.org/p/nuf/econwp/127.html
   My bibliography  Save this paper

The Monotonicity of Individual and Market Demand

Author

Listed:
  • 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
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Kannai, Yakar, 1977. "Concavifiability and constructions of concave utility functions," Journal of Mathematical Economics, Elsevier, vol. 4(1), pages 1-56, March.
    2. Muellbauer, John, 1976. "Community Preferences and the Representative Consumer," Econometrica, Econometric Society, vol. 44(5), pages 979-999, September.
    3. Hildenbrand, Werner, 1983. "On the "Law of Demand."," Econometrica, Econometric Society, vol. 51(4), pages 997-1019, July.
    4. Debreu, Gerard, 1974. "Excess demand functions," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 15-21, March.
    5. Debreu, Gerard, 1976. "Least concave utility functions," Journal of Mathematical Economics, Elsevier, vol. 3(2), pages 121-129, July.
    6. Polterovich, Victor & Mityushin, Leonid, 1978. "Criteria for Monotonicity of Demand Functions," MPRA Paper 20097, University Library of Munich, Germany.
    7. Chiappori, Pierre-Andre, 1985. "Distribution of Income and the "Law of Demand."," Econometrica, Econometric Society, vol. 53(1), pages 109-127, January.
    8. John Muellbauer, 1975. "Aggregation, Income Distribution and Consumer Demand," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 42(4), pages 525-543.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. John Quah, 2001. "Comparative Statics of the Weak Axiom," Economics Papers 2001-W3, Economics Group, Nuffield College, University of Oxford.
    3. Gaël GIRAUD & Isabelle MARET, 2005. "The Exact Insensitivity of Market Budget Shares and the 'Balancing Effect'," Working Papers of BETA 2005-02, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    4. Donald J. Brown & Caterina Calsamiglia, 2014. "Alfred Marshall’s cardinal theory of value: the strong law of demand," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(1), pages 65-76, April.
    5. 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.
    6. 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.
    7. 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.
    8. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, January.
    9. 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.
    10. Larsson, Lars-Göran, 2012. "On Expected Demand Functions without Utility Maximization," Working Papers in Economics 527, University of Gothenburg, Department of Economics.
    11. Michael Jerison & John K.-H. Quah, 2006. "Law of Demand," Discussion Papers 06-07, University at Albany, SUNY, Department of Economics.
    12. Gaël Giraud & Isabelle Maret, 2007. "The Exact Insensitivity of Market Budget Shares and the "Balancing Effect"," Working Papers halshs-00155753, HAL.
    13. 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.
    14. 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.
    15. 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.
    16. Jean-Sébastien Lenfant, 2011. "General equilibrium after Sonnenschein, Mantel and Debreu: Trends and perspectives [L'équilibre général depuis Sonnenschein, Mantel et Debreu : courants et perspectives]," Post-Print hal-01742978, HAL.
    17. 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..
    18. 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.
    19. 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.
    20. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.
    21. Michael Jerison, 2001. "Demand Dispersion, Metonymy and Ideal Panel Data," Discussion Papers 01-11, University at Albany, SUNY, Department of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pierre-André Chiappori, 1990. "La théorie du consommateur est-elle réfutable ?," Revue Économique, Programme National Persée, vol. 41(6), pages 1001-1026.
    2. Kesavan, Thulasiram, 1988. "Monte Carlo experiments of market demand theory," ISU General Staff Papers 198801010800009854, Iowa State University, Department of Economics.
    3. John K.-H. Quah, 2000. "The Weak Axiom and Comparative Statics," Econometric Society World Congress 2000 Contributed Papers 0437, Econometric Society.
    4. John Chipman, 2006. "Pareto and contemporary economic theory," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 53(4), pages 451-475, December.
    5. Alan Kirman, 2006. "Heterogeneity in Economics," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 1(1), pages 89-117, May.
    6. Freixas, Xavier & Mas-Colell, Andreu, 1987. "Engel Curves Leading to the Weak Axiom in the Aggregate," Econometrica, Econometric Society, vol. 55(3), pages 515-531, May.
    7. Michael Jerison & John K.-H. Quah, 2006. "Law of Demand," Discussion Papers 06-07, University at Albany, SUNY, Department of Economics.
    8. Thomas F. Crossley & Hamish W. Low, 2011. "Is The Elasticity Of Intertemporal Substitution Constant?," Journal of the European Economic Association, European Economic Association, vol. 9(1), pages 87-105, February.
    9. Barnett, William A. & Serletis, Apostolos, 2008. "Consumer preferences and demand systems," Journal of Econometrics, Elsevier, vol. 147(2), pages 210-224, December.
    10. Herrendorf, Berthold & Rogerson, Richard & Valentinyi, Ákos, 2014. "Growth and Structural Transformation," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 6, pages 855-941, Elsevier.
    11. Simon Alder & Timo Boppart & Andreas Müller, 2022. "A Theory of Structural Change That Can Fit the Data," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(2), pages 160-206, April.
    12. Berbée, Paul & Brücker, Herbert & Garloff, Alfred & Sommerfeld, Katrin, 2022. "The labor demand effects of refugee immigration: Evidence from a natural experiment," ZEW Discussion Papers 22-069, ZEW - Leibniz Centre for European Economic Research.
    13. Paolo Giovanni Piacquadio, 2017. "A Fairness Justification of Utilitarianism," Econometrica, Econometric Society, vol. 85, pages 1261-1276, July.
    14. Ali Khan, M. & Schlee, Edward E., 2017. "The nonconcavity of money-metric utility: A new formulation and proof," Economics Letters, Elsevier, vol. 154(C), pages 10-12.
    15. Lilia Maliar & Serguei Maliar, 2005. "An Analytical Construction Of Constantinides¿ Social Utility Function," Working Papers. Serie AD 2005-25, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    16. William Barnett & Ousmane Seck, 2006. "Rotterdam vs Almost Ideal Models: Will the Best Demand Specification Please Stand Up?," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200605, University of Kansas, Department of Economics.
    17. Donald, Stephen G. & Fortuna, Natércia & Pipiras, Vladas, 2011. "Local and Global Rank Tests for Multivariate Varying-Coefficient Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 29(2), pages 295-306.
    18. Cheng, John Q & Wellman, Michael P, 1998. "The WALRAS Algorithm: A Convergent Distributed Implementation of General Equilibrium Outcomes," Computational Economics, Springer;Society for Computational Economics, vol. 12(1), pages 1-24, August.
    19. 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.
    20. Timo Boppart, 2014. "Structural Change and the Kaldor Facts in a Growth Model With Relative Price Effects and Non‐Gorman Preferences," Econometrica, Econometric Society, vol. 82, pages 2167-2196, November.

    More about this item

    Keywords

    DEMAND ; INCOME DISTRIBUTION;

    JEL classification:

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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nuf:econwp:127. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Maxine Collett (email available below). General contact details of provider: https://www.nuffield.ox.ac.uk/economics/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.