- 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...
Expand abstract - Publication status:
- Published
- Peer review status:
- Peer reviewed
- Version:
- Accepted Manuscript
- Files:
-
-
(pdf, 1.7mb)
-
(pdf, 2.0mb)
-
- Publisher copy:
- 10.3982/ECTA13693
-
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- Publisher:
- The 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
- Pubs id:
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pubs:984737
- URN:
-
uri:dc2b34d4-8343-4dc8-aabd-4afdabfd48b1
- UUID:
-
uuid:dc2b34d4-8343-4dc8-aabd-4afdabfd48b1
- Local pid:
- pubs:984737
- 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
Journal article
Understanding preferences: “Demand types”, and the existence of equilibrium with indivisibilities
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