IDEAS home Printed from https://ideas.repec.org/a/eee/ecolet/v108y2010i3p299-302.html
   My bibliography  Save this article

Single-valuedness of the demand correspondence and strict convexity of preferences: An equivalence result

Author

Listed:
  • Bilancini, Ennio
  • Boncinelli, Leonardo

Abstract

If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and Böhm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.

Suggested Citation

  • Bilancini, Ennio & Boncinelli, Leonardo, 2010. "Single-valuedness of the demand correspondence and strict convexity of preferences: An equivalence result," Economics Letters, Elsevier, vol. 108(3), pages 299-302, September.
    • Handle: RePEc:eee:ecolet:v:108:y:2010:i:3:p:299-302
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0165-1765(10)00218-1
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Mas-Colell, Andreu, 1977. "The Recoverability of Consumers' Preferences from Market Demand Behavior," Econometrica, Econometric Society, vol. 45(6), pages 1409-1430, September.
    2. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
    3. Efe A. Ok, 2007. "Preliminaries of Real Analysis, from Real Analysis with Economic Applications," Introductory Chapters, in: Real Analysis with Economic Applications, Princeton University Press.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Theodoros Diasakos & Georgios Gerasimou, 2017. "Preference Conditions for Invertible Demand Functions," Discussion Paper Series, School of Economics and Finance 201708, School of Economics and Finance, University of St Andrews, revised 23 Aug 2019.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chatterjee, Kalyan & Vijay Krishna, R., 2011. "A nonsmooth approach to nonexpected utility theory under risk," Mathematical Social Sciences, Elsevier, vol. 62(3), pages 166-175.
    2. Hosoya, Yuhki, 2013. "Measuring utility from demand," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 82-96.
    3. Asier Estevan & Roberto Maura & Óscar Valero, 2023. "Quasi-Metrics for Possibility Results: Intergenerational Preferences and Continuity," Mathematics, MDPI, vol. 11(2), pages 1-19, January.
    4. John Quah & Hiroki Nishimura & Efe A. Ok, 2013. "A Unified Approach to Revealed Preference Theory: The Case of Rational Choice," Economics Series Working Papers 686, University of Oxford, Department of Economics.
    5. Gorno, Leandro, 2019. "Revealed preference and identification," Journal of Economic Theory, Elsevier, vol. 183(C), pages 698-739.
    6. Kets, W., 2008. "Networks and learning in game theory," Other publications TiSEM 7713fce1-3131-498c-8c6f-3, Tilburg University, School of Economics and Management.
    7. Chollete, Lorán & de la Peña, Victor & Klass, Michael, 2023. "The price of independence in a model with unknown dependence," Mathematical Social Sciences, Elsevier, vol. 123(C), pages 51-58.
    8. Gonczarowski, Yannai A. & Kominers, Scott Duke & Shorrer, Ran I., 0. "To infinity and beyond: a general framework for scaling economic theories," Theoretical Economics, Econometric Society.
    9. Forges, Françoise & Minelli, Enrico, 2009. "Afriat's theorem for general budget sets," Journal of Economic Theory, Elsevier, vol. 144(1), pages 135-145, January.
    10. Yuhki Hosoya, 2024. "Non-smooth integrability theory," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 78(2), pages 475-520, September.
    11. Yuhki Hosoya, 2022. "Non-Smooth Integrability Theory," Papers 2203.04770, arXiv.org, revised Mar 2024.
    12. Yuhki Hosoya, 2021. "An Axiom for Concavifiable Preferences in View of Alt's Theory," Papers 2102.07237, arXiv.org, revised Nov 2021.
    13. Hosoya, Yuhki, 2020. "Recoverability revisited," Journal of Mathematical Economics, Elsevier, vol. 90(C), pages 31-41.
    14. Federico Quartieri, 2023. "Undominated Maximals: General Definition and Characterizations," Mathematics, MDPI, vol. 11(18), pages 1-19, September.
    15. Hosoya, Yuhki, 2022. "An axiom for concavifiable preferences in view of Alt’s theory," Journal of Mathematical Economics, Elsevier, vol. 98(C).
    16. Wright, Austin L. & Sonin, Konstantin & Driscoll, Jesse & Wilson, Jarnickae, 2020. "Poverty and economic dislocation reduce compliance with COVID-19 shelter-in-place protocols," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 544-554.
    17. Janvier D. Nkurunziza, 2005. "Reputation and Credit without Collateral in Africa`s Formal Banking," Economics Series Working Papers WPS/2005-02, University of Oxford, Department of Economics.
    18. Vadim Borokhov, 2014. "On the properties of nodal price response matrix in electricity markets," Papers 1404.3678, arXiv.org, revised Jan 2015.
    19. Gan, Li & Ju, Gaosheng & Zhu, Xi, 2015. "Nonparametric estimation of structural labor supply and exact welfare change under nonconvex piecewise-linear budget sets," Journal of Econometrics, Elsevier, vol. 188(2), pages 526-544.
    20. Peterson, Jeffrey M. & Boisvert, Richard N. & de Gorter, Harry, 1999. "Multifunctionality and Optimal Environmental Policies for Agriculture in an Open Economy," Working Papers 127701, Cornell University, Department of Applied Economics and Management.

    More about this item

    Keywords

    Strict convexity Strict monotonicity Demand correspondence Single-valuedness Demand function;

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:108:y:2010:i:3:p:299-302. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolet .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.