IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/20097.html
   My bibliography  Save this paper

Criteria for Monotonicity of Demand Functions

Author

Listed:
  • Polterovich, Victor
  • Mityushin, Leonid

Abstract

We formulate a simple necessary and sufficient condition of monotonicity of a consumer's demand function in terms of the first and second derivatives of the consumer's utility function.

Suggested Citation

  • Polterovich, Victor & Mityushin, Leonid, 1978. "Criteria for Monotonicity of Demand Functions," MPRA Paper 20097, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:20097
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/20097/1/MPRA_paper_20097.pdf
    File Function: original version
    Download Restriction: no

    Citations

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


    Cited by:

    1. John K.-H. Quah, 2000. "The Monotonicity of Individual and Market Demand," Econometrica, Econometric Society, vol. 68(4), pages 911-930, July.
    2. Hildenbrand, Werner, 1989. "Facts and ideas in microeconomic theory," European Economic Review, Elsevier, vol. 33(2-3), pages 251-276, March.
    3. Rose-Anne Dana, 2001. "original papers : Uniqueness of Arrow-Debreu and Arrow-Radner equilibrium when utilities are additively separable," Review of Economic Design, Springer;Society for Economic Design, vol. 6(2), pages 155-173.
    4. Evstigneev, I. V. & Taksar, M., 1995. "Stochastic equilibria on graphs, II," Journal of Mathematical Economics, Elsevier, vol. 24(4), pages 383-406.
    5. Erkan Yalcin, 2002. "Existence of Equilibrium in Incomplete Markets with Non-Ordered Preferences," GE, Growth, Math methods 0204002, EconWPA.
    6. Hervés-Estévez, Javier & Moreno-García, Emma, 2015. "A convergence result for a bargaining set," MPRA Paper 69813, University Library of Munich, Germany.
    7. Zhou, Lin, 1995. "A characterization of demand functions that satisfy the weak axiom of revealed preference," Economics Letters, Elsevier, vol. 49(4), pages 403-406, October.
    8. B. Grodal & W. Hildenbrand, 1989. "The Weak Axiom of Revealed Preference in a Productive Economy," Review of Economic Studies, Oxford University Press, vol. 56(4), pages 635-639.
    9. Dana, Rose-Anne, 1995. "An extension of Milleron, Mitjushin and Polterovich's result," Journal of Mathematical Economics, Elsevier, vol. 24(3), pages 259-269.
    10. Hardle, Wolfgang & Hildenbrand, Werner & Jerison, Michael, 1991. "Empirical Evidence on the Law of Demand," Econometrica, Econometric Society, vol. 59(6), pages 1525-1549, November.
    11. Hua Chen & Michael Sherris & Tao Sun & Wenge Zhu, 2013. "Living With Ambiguity: Pricing Mortality-Linked Securities With Smooth Ambiguity Preferences," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(3), pages 705-732, September.
    12. John K.-H. Quah, 2000. "The Weak Axiom and Comparative Statics," Econometric Society World Congress 2000 Contributed Papers 0437, Econometric Society.
    13. Simas Kucinskas, 2015. "Liquidity Creation without Banks," Tinbergen Institute Discussion Papers 15-101/VI, Tinbergen Institute.
    14. Hildenbrand, Werner & Jerison, Michael, 1989. "The demand theory of the weak axioms of revealed preference," Economics Letters, Elsevier, vol. 29(3), pages 209-213.
    15. Simas Kucinskas, 2015. "Liquidity creation without banks," DNB Working Papers 482, Netherlands Central Bank, Research Department.
    16. John Quah, 2001. "Comparative Statics of the Weak Axiom," Economics Papers 2001-W3, Economics Group, Nuffield College, University of Oxford.
    17. John K.H. Quah, 2003. "The Law of Demand and Risk Aversion," Econometrica, Econometric Society, vol. 71(2), pages 713-721, March.
    18. Kannai, Yakar, 1989. "A characterization of monotone individual demand functions," Journal of Mathematical Economics, Elsevier, vol. 18(1), pages 87-94, February.
    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. Jerison, David & Jerison, Michael, 1993. "Approximately Rational Consumer Demand," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(2), pages 217-241, April.
    21. Werner Hildenbrand & Alois Kneip, 2005. "On behavioral heterogeneity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(1), pages 155-169, January.
    22. 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.
    23. 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.
    24. Michael Jerison & John K.-H. Quah, 2006. "Law of Demand," Discussion Papers 06-07, University at Albany, SUNY, Department of Economics.

    More about this item

    Keywords

    demand functions; monotonicity; consumer's utility function;

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

    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:pra:mprapa:20097. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter) or (Rebekah McClure). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    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.

    We have no references for this item. You can help adding them by using 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.