Demand is heterogeneous in Grandmont's model.
We show that Grandmont's (1992) model of demand heterogeneity can be a model of heterogeneity in the complementary or sign-balancing sense. By this we mean that heterogeneity has the following form: given a change in price, agents respond heterogenously - some by increasing their expenditure sh...
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| Format: | Working paper |
| Language: | English |
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Nuffield College (University of Oxford)
2001
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| _version_ | 1797095997195681792 |
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| author | Quah, J |
| author_facet | Quah, J |
| author_sort | Quah, J |
| collection | OXFORD |
| description | We show that Grandmont's (1992) model of demand heterogeneity can be a model of heterogeneity in the complementary or sign-balancing sense. By this we mean that heterogeneity has the following form: given a change in price, agents respond heterogenously - some by increasing their expenditure share on a good, others by diminishing it, so that the average expenditure share of all goods remain approximately unchanged. |
| first_indexed | 2024-03-07T04:35:49Z |
| format | Working paper |
| id | oxford-uuid:cfe1479f-c9e8-48bc-9f68-b29efd19bf40 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T04:35:49Z |
| publishDate | 2001 |
| publisher | Nuffield College (University of Oxford) |
| record_format | dspace |
| spelling | oxford-uuid:cfe1479f-c9e8-48bc-9f68-b29efd19bf402022-03-27T07:45:55ZDemand is heterogeneous in Grandmont's model.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:cfe1479f-c9e8-48bc-9f68-b29efd19bf40EnglishDepartment of Economics - ePrintsNuffield College (University of Oxford)2001Quah, JWe show that Grandmont's (1992) model of demand heterogeneity can be a model of heterogeneity in the complementary or sign-balancing sense. By this we mean that heterogeneity has the following form: given a change in price, agents respond heterogenously - some by increasing their expenditure share on a good, others by diminishing it, so that the average expenditure share of all goods remain approximately unchanged. |
| spellingShingle | Quah, J Demand is heterogeneous in Grandmont's model. |
| title | Demand is heterogeneous in Grandmont's model. |
| title_full | Demand is heterogeneous in Grandmont's model. |
| title_fullStr | Demand is heterogeneous in Grandmont's model. |
| title_full_unstemmed | Demand is heterogeneous in Grandmont's model. |
| title_short | Demand is heterogeneous in Grandmont's model. |
| title_sort | demand is heterogeneous in grandmont s model |
| work_keys_str_mv | AT quahj demandisheterogeneousingrandmontsmodel |