Journal article icon

Journal article

Local disaggregation of negative demand and excess demand functions.

Abstract:

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Not peer reviewed
Version:
Author's Original

Actions


Access Document


Files:
Publisher copy:
10.1016/j.jmateco.2006.11.004

Authors


More by this author
Institution:
University of Oxford
Role:
Author
Publisher:
Elsevier B.V. Publisher's website
Journal:
Journal of Mathematical Economics Journal website
Volume:
43
Issue:
6
Publication date:
2007-01-01
DOI:
URN:
uuid:896bcee7-65ba-4a25-ab28-8e3d52872361
Local pid:
oai:economics.ouls.ox.ac.uk:14773
Language:
English

Terms of use


Metrics


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP