A notion of ''behavioral heterogeneity'' of a finite population of households is modelled. It is shown that the higher the degree of behavioral heterogeneity the less sensitive depends the aggregate consumption expenditure ratio upon prices.As a consequence, behavioral heterogeneity implies a tendency for the Jacobian of aggregate demand to have a negation dominant diagonal.
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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number
589.
Length: pages Date of creation: Mar 1999 Date of revision: Handle: RePEc:bon:bonsfa:589
Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany Fax: +49 228 73 9221 Web page: http://www.bgse.uni-bonn.de/index.php?id=517
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