Balasko, Y. (2004) The equilibrium manifold keeps the memory of individual demand functions. Economic Theory, 24 ( 3). pp. 493-501. ISSN 0938-2259
It is shown that the property that the equilibrium manifold keeps the memory of the individual demand functions holds true if every individual demand function satisfies the following three properties: 1) It is a function of commodity prices and of consumers income; 2) Consumption belongs to the nonnegative orthant of the commodity space; 3) Walras law. Neither differentiability nor continuity are necessary. In addition, the demand functions do not have to be utility maximizing subject to budget constraints.
|Institution:||The University of York|
|Academic Units:||The University of York > Economics and Related Studies (York)|
|Depositing User:||York RAE Import|
|Date Deposited:||05 Jun 2009 11:03|
|Last Modified:||05 Jun 2009 11:03|
|Publisher:||Springer Science + Business Media|