Smoothing demand by aggregation with respect to wealth

Dierker E, Dierker H, Trockel W (1980)
Journal of Mathematical Economics 7(3): 227-247.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Dierker, Egbert; Dierker, Hildegard; Trockel, WalterUniBi
Abstract / Bemerkung
We suggest in this paper to treat the problem of smoothing demand by aggregation in a two-step procedure, corresponding to the two different constituents of consumption characteristics, wealth and preferences. Instead of imposing a manifold structure on preferences we exploit the nice structure of wealth-space. The first step of this procedure, aggregation with respect to wealth, is carried out. It is shown that, for any preference, aggregation with respect to wealth yields a mean demand which is almost everywhere C 1. Moreover, it is shown that for an important class of preferences, vanishing Gaussian curvature of indifference surfaces does not destroy differentiability of the mean demand function.
Erscheinungsjahr
1980
Zeitschriftentitel
Journal of Mathematical Economics
Band
7
Ausgabe
3
Seite(n)
227-247
ISSN
0304-4068
Page URI
https://pub.uni-bielefeld.de/record/1781403

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Dierker E, Dierker H, Trockel W. Smoothing demand by aggregation with respect to wealth. Journal of Mathematical Economics. 1980;7(3):227-247.
Dierker, E., Dierker, H., & Trockel, W. (1980). Smoothing demand by aggregation with respect to wealth. Journal of Mathematical Economics, 7(3), 227-247. doi:10.1016/0304-4068(80)90011-7
Dierker, E., Dierker, H., and Trockel, W. (1980). Smoothing demand by aggregation with respect to wealth. Journal of Mathematical Economics 7, 227-247.
Dierker, E., Dierker, H., & Trockel, W., 1980. Smoothing demand by aggregation with respect to wealth. Journal of Mathematical Economics, 7(3), p 227-247.
E. Dierker, H. Dierker, and W. Trockel, “Smoothing demand by aggregation with respect to wealth”, Journal of Mathematical Economics, vol. 7, 1980, pp. 227-247.
Dierker, E., Dierker, H., Trockel, W.: Smoothing demand by aggregation with respect to wealth. Journal of Mathematical Economics. 7, 227-247 (1980).
Dierker, Egbert, Dierker, Hildegard, and Trockel, Walter. “Smoothing demand by aggregation with respect to wealth”. Journal of Mathematical Economics 7.3 (1980): 227-247.
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