Journal article
Local disaggregation of negative demand and excess demand functions.
- Abstract:
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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 n/2 + 1 agents are needed for the 'at' decomposition. We ask whether, within the same class, the 'around' decomposition also requires only n/2 + 1 agents.
- Publication status:
- Published
- Peer review status:
- Not peer reviewed
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- Files:
-
-
(Preview, Author's original, pdf, 151.3KB, Terms of use)
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- Publisher copy:
- 10.1016/j.jmateco.2006.11.004
Authors
- Publisher:
- Elsevier
- Journal:
- Journal of Mathematical Economics More from this journal
- Volume:
- 43
- Issue:
- 6
- Pages:
- 764 - 770
- Publication date:
- 2007-01-01
- DOI:
- ISSN:
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0304-4068
- Language:
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English
- UUID:
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uuid:896bcee7-65ba-4a25-ab28-8e3d52872361
- Local pid:
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oai:economics.ouls.ox.ac.uk:14773
- Deposit date:
-
2011-08-16
Terms of use
- Copyright holder:
- Elsevier BV
- Copyright date:
- 2007
- Notes:
- © 2007 Elsevier Science B.V. All rights reserved. This is a pre-print version.
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