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General Properties of Expected Demand Functions: Negativity (No Giffen Good) and Homogeneity - A Descriptive Non Utility Maximizing Approach

Author

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  • Larsson, Lars-Göran

    (Department of Economics, School of Business, Economics and Law, Göteborg University)

Abstract

In this paper we assume that choice of commodities at the individual (household) level is made in the budget set and that the choice can be described by a probability density function. We prove that negativity (()0xExp

Suggested Citation

  • Larsson, Lars-Göran, 2010. "General Properties of Expected Demand Functions: Negativity (No Giffen Good) and Homogeneity - A Descriptive Non Utility Maximizing Approach," Working Papers in Economics 469, University of Gothenburg, Department of Economics.
    • Handle: RePEc:hhs:gunwpe:0469
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    File URL: http://hdl.handle.net/2077/23387
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    References listed on IDEAS

    as
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    5. BARTEN, Anton P., 1969. "Maximum likelihood estimation of a complete system of demand equations," LIDAM Reprints CORE 34, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Hardle, Wolfgang & Hildenbrand, Werner & Jerison, Michael, 1991. "Empirical Evidence on the Law of Demand," Econometrica, Econometric Society, vol. 59(6), pages 1525-1549, November.
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    More about this item

    Keywords

    Negativity (No Giffen good) and other properties of consumer demand functions; Microeconomics; Consumer theory; Consumer behaviour; Choice described in random terms; Expected individual and market demand;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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