Local disaggregation of negative demand and excess demand functions.
<p>The literature on the characterization of aggregate excess and market demand has generated three types of results: global, local, or 'at a point'. In this note, we study the relationship between the last two approaches. We prove that within the class of functions satisfying standa...
| Huvudupphovsmän: | , , |
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| Materialtyp: | Journal article |
| Språk: | English |
| Publicerad: |
Elsevier
2007
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| _version_ | 1826283519824887808 |
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| author | Chiappori, P Ekeland, I Browning, M |
| author_facet | Chiappori, P Ekeland, I Browning, M |
| author_sort | Chiappori, P |
| collection | OXFORD |
| description | <p>The literature on the characterization of aggregate excess and market demand has generated three types of results: global, local, or 'at a point'. In this note, we study the relationship between the last two approaches. We prove that within the class of functions satisfying standard conditions and whose Jacobian matrix is negative semi-definite, only <em>n</em>/2 + 1 agents are needed for the 'at' decomposition. We ask whether, within the same class, the 'around' decomposition also requires only <em>n</em>/2 + 1 agents.</p> |
| first_indexed | 2024-03-07T01:00:06Z |
| format | Journal article |
| id | oxford-uuid:896bcee7-65ba-4a25-ab28-8e3d52872361 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T01:00:06Z |
| publishDate | 2007 |
| publisher | Elsevier |
| record_format | dspace |
| spelling | oxford-uuid:896bcee7-65ba-4a25-ab28-8e3d528723612022-03-26T22:24:24ZLocal disaggregation of negative demand and excess demand functions.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:896bcee7-65ba-4a25-ab28-8e3d52872361EnglishDepartment of Economics - ePrintsElsevier2007Chiappori, PEkeland, IBrowning, M<p>The literature on the characterization of aggregate excess and market demand has generated three types of results: global, local, or 'at a point'. In this note, we study the relationship between the last two approaches. We prove that within the class of functions satisfying standard conditions and whose Jacobian matrix is negative semi-definite, only <em>n</em>/2 + 1 agents are needed for the 'at' decomposition. We ask whether, within the same class, the 'around' decomposition also requires only <em>n</em>/2 + 1 agents.</p> |
| spellingShingle | Chiappori, P Ekeland, I Browning, M Local disaggregation of negative demand and excess demand functions. |
| title | Local disaggregation of negative demand and excess demand functions. |
| title_full | Local disaggregation of negative demand and excess demand functions. |
| title_fullStr | Local disaggregation of negative demand and excess demand functions. |
| title_full_unstemmed | Local disaggregation of negative demand and excess demand functions. |
| title_short | Local disaggregation of negative demand and excess demand functions. |
| title_sort | local disaggregation of negative demand and excess demand functions |
| work_keys_str_mv | AT chiapporip localdisaggregationofnegativedemandandexcessdemandfunctions AT ekelandi localdisaggregationofnegativedemandandexcessdemandfunctions AT browningm localdisaggregationofnegativedemandandexcessdemandfunctions |