Journal article
Understanding preferences: “Demand types”, and the existence of equilibrium with indivisibilities
- Abstract:
-
An Equivalence Theorem between geometric structures and utility functions allows new methods for understanding preferences. Our classification of valuations into “Demand Types” incorporates existing definitions (substitutes, complements, “strong substitutes,” etc.) and permits new ones. Our Unimodularity Theorem generalizes previous results about when competitive equilibrium exists for any set of agents whose valuations are all of a “demand type.” Contrary to popular belief, equilibrium is gu...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
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- Files:
-
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(Accepted manuscript, pdf, 1.7MB)
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(Accepted manuscript, pdf, 2.0MB)
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- Publisher copy:
- 10.3982/ECTA13693
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Authors
Funding
Bibliographic Details
- Publisher:
- Econometric Society Publisher's website
- Journal:
- Econometrica Journal website
- Volume:
- 87
- Issue:
- 3
- Pages:
- 867-932
- Publication date:
- 2019-05-20
- Acceptance date:
- 2019-01-08
- DOI:
- EISSN:
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1468-0262
- ISSN:
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0012-9682
- Source identifiers:
-
984737
Item Description
- Keywords:
- Pubs id:
-
pubs:984737
- UUID:
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uuid:dc2b34d4-8343-4dc8-aabd-4afdabfd48b1
- Local pid:
- pubs:984737
- Deposit date:
- 2019-03-26
Terms of use
- Copyright holder:
- The Econometric Society
- Copyright date:
- 2019
- Notes:
- © 2019 The Econometric Society. This is the accepted manuscript version of the article. The final version is available online from The Econometric Society at: https://doi.org/10.3982/ECTA13693
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