An Analytical Construction Of Constantinides¿ Social Utility Function
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- E. Eisenberg, 1961. "Aggregation of Utility Functions," Management Science, INFORMS, vol. 7(4), pages 337-350, July.
- Mantel, Rolf R., 1974. "On the characterization of aggregate excess demand," Journal of Economic Theory, Elsevier, vol. 7(3), pages 348-353, March.
- Maliar, Lilia & Maliar, Serguei, 2001.
"Heterogeneity in capital and skills in a neoclassical stochastic growth model,"
Journal of Economic Dynamics and Control, Elsevier, vol. 25(9), pages 1367-1397, September.
- Lilia Maliar & Serguei Maliar, 1999. "- Heterogeneity In Capital And Skills In A Neoclassical Stochastic Growth Model," Working Papers. Serie AD 1999-21, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Shafer, Wayne J, 1977. "Revealed Preference and Aggregation," Econometrica, Econometric Society, vol. 45(5), pages 1173-1182, July.
- Lilia Maliar & Serguei Maliar, 2003.
"The Representative Consumer in the Neoclassical Growth Model with Idiosyncratic Shocks,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 368-380, April.
- Lilia Maliar & Serguei Maliar, 2002. "The Representative Consumer In The Neoclassical Growth Model With Idiosyncratic Shocks," Working Papers. Serie AD 2002-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Masao Ogaki, 2003. "Aggregation under Complete Markets," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(4), pages 977-986, October.
- Paul A. Samuelson, 1956. "Social Indifference Curves," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 1-22.
- Chipman, John S. & Moore, James C., 1979. "On social welfare functions and the aggregation of preferences," Journal of Economic Theory, Elsevier, vol. 21(1), pages 111-139, August.
- Charles Blackorby & William Schworm, 1993. "The Implications of Additive Community Preferences in a Multi-Consumer Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(1), pages 209-227.
- Zinde-Walsh, Victoria, 1995. "ESTIMATION AND INFERENCE IN ECONOMETRICSRussell Davidson and James G. MacKinnon Oxford University Press, 1993," Econometric Theory, Cambridge University Press, vol. 11(3), pages 631-635, June.
- Jaume Ventura & Francesco Caselli, 2000.
"A Representative Consumer Theory of Distribution,"
American Economic Review, American Economic Association, vol. 90(4), pages 909-926, September.
- Caselli, G & Ventura, J, 1996. "A Representative Consumer Theory of Distribution," Papers 534, Harvard - Institute for International Development.
- Caselli, F. & Ventura, J., 1996. "A Representative Consumer Theory of Distribution," Working papers 96-11, Massachusetts Institute of Technology (MIT), Department of Economics.
- Lilia Maliar & Serguei Maliar, 2004.
"Preference shocks from aggregation: time series data evidence,"
Canadian Journal of Economics, Canadian Economics Association, vol. 37(3), pages 768-781, August.
- Lilia Maliar & Serguei Maliar, 2004. "Preference shocks from aggregation: time series data evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(3), pages 768-781, August.
- Lilia Maliar & Serguei Maliar, 2003. "Preference Shocks From Aggregation: Time Series Data Evidence," Working Papers. Serie AD 2003-35, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Muellbauer, John, 1976. "Community Preferences and the Representative Consumer," Econometrica, Econometric Society, vol. 44(5), pages 979-999, September.
- Hildenbrand, Werner, 1983. "On the "Law of Demand."," Econometrica, Econometric Society, vol. 51(4), pages 997-1019, July.
- Lilia Maliar & Serguei Maliar, 2003. "Quasi-Linear Preferences In The Macroeconomy: Indeterminacy, Heterogeneity Andthe Representative Consumer," Working Papers. Serie AD 2003-30, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Atkeson, Andrew & Ogaki, Masao, 1996.
"Wealth-varying intertemporal elasticities of substitution: Evidence from panel and aggregate data,"
Journal of Monetary Economics, Elsevier, vol. 38(3), pages 507-534, December.
- Atkeson, A. & Ogaki, M., 1991. "Wealth-Varying Intertemporal Elasticities of Substitution Evidence from Panel and Aggregate Data," RCER Working Papers 303, University of Rochester - Center for Economic Research (RCER).
- Geanakoplos, J D & Polemarchakis, H M, 1980.
"On the Disaggregation of Excess Demand Functions,"
Econometrica, Econometric Society, vol. 48(2), pages 315-331, March.
- John Geanakoplos & Heracles M. Polemarchakis, 1982. "On the Disaggregation of Excess Demand Functions," Cowles Foundation Discussion Papers 642, Cowles Foundation for Research in Economics, Yale University.
- Den Haan, Wouter J., 1997. "Solving Dynamic Models With Aggregate Shocks And Heterogeneous Agents," Macroeconomic Dynamics, Cambridge University Press, vol. 1(2), pages 355-386, June.
- Chipman, John S., 1974. "Homothetic preferences and aggregation," Journal of Economic Theory, Elsevier, vol. 8(1), pages 26-38, May.
- Per Krusell & Anthony A. Smith & Jr., 1998.
"Income and Wealth Heterogeneity in the Macroeconomy,"
Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 867-896, October.
- Per Krusell & Anthony A. Smith, Jr., "undated". "Income and Wealth Heterogeneity in the Macroeconomy," GSIA Working Papers 1997-37, Carnegie Mellon University, Tepper School of Business.
- Krusell, P & Smith Jr, A-A, 1995. "Income and Wealth Heterogeneity in the Macroeconomic," RCER Working Papers 399, University of Rochester - Center for Economic Research (RCER).
- Chatterjee, Satyajit, 1994. "Transitional dynamics and the distribution of wealth in a neoclassical growth model," Journal of Public Economics, Elsevier, vol. 54(1), pages 97-119, May.
- Robert A. Pollak, 1971. "Additive Utility Functions and Linear Engel Curves," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(4), pages 401-414.
- Sonnenschein, Hugo, 1972. "Market Excess Demand Functions," Econometrica, Econometric Society, vol. 40(3), pages 549-563, May.
- repec:cup:macdyn:v:1:y:1997:i:2:p:355-86 is not listed on IDEAS
- Freixas, Xavier & Mas-Colell, Andreu, 1987. "Engel Curves Leading to the Weak Axiom in the Aggregate," Econometrica, Econometric Society, vol. 55(3), pages 515-531, May.
- Constantinides, George M, 1982. "Intertemporal Asset Pricing with Heterogeneous Consumers and without Demand Aggregation," The Journal of Business, University of Chicago Press, vol. 55(2), pages 253-267, April.
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.- Lilia Maliar & Serguei Maliar, 2003.
"The Representative Consumer in the Neoclassical Growth Model with Idiosyncratic Shocks,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 368-380, April.
- Lilia Maliar & Serguei Maliar, 2002. "The Representative Consumer In The Neoclassical Growth Model With Idiosyncratic Shocks," Working Papers. Serie AD 2002-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Lilia Maliar & Serguei Maliar, 2003. "Quasi-Linear Preferences In The Macroeconomy: Indeterminacy, Heterogeneity Andthe Representative Consumer," Working Papers. Serie AD 2003-30, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Masao Ogaki, 2003. "Aggregation under Complete Markets," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(4), pages 977-986, October.
- Koulovatianos, Christos & Schröder, Carsten & Schmidt, Ulrich, 2019.
"Do demographics prevent consumption aggregates from reflecting micro-level preferences?,"
European Economic Review, Elsevier, vol. 111(C), pages 166-190.
- Christos Koulovatianos & Carsten Schroeder & Ulrich Schmidt, 2018. "Do Demographics Prevent Consumption Aggregates From Refflecting Micro-Level Preferences?," DEM Discussion Paper Series 18-12, Department of Economics at the University of Luxembourg.
- Christos Koulovatianos & Carsten Schröder & Ulrich Schmidt, 2010.
"Confronting the Representative Consumer with Household-Size Heterogeneity,"
Discussion Papers of DIW Berlin
1056, DIW Berlin, German Institute for Economic Research.
- Christos Koulovatianos & Carsten Schröder & Ulrich Schmidt, 2014. "Confronting the Representative Consumer with Household-Size Heterogeneity," DEM Discussion Paper Series 14-13, Department of Economics at the University of Luxembourg.
- Koulovatianos, Christos & Schröder, Carsten & Schmidt, Ulrich, 2010. "Confronting the representative consumer with household-size heterogeneity," Kiel Working Papers 1663, Kiel Institute for the World Economy (IfW Kiel).
- Maliar, Lilia & Maliar, Serguei, 2001.
"Heterogeneity in capital and skills in a neoclassical stochastic growth model,"
Journal of Economic Dynamics and Control, Elsevier, vol. 25(9), pages 1367-1397, September.
- Lilia Maliar & Serguei Maliar, 1999. "- Heterogeneity In Capital And Skills In A Neoclassical Stochastic Growth Model," Working Papers. Serie AD 1999-21, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Christos Koulovatianos, 2005. "Preferences and the Dynamic Representative Consumer," Vienna Economics Papers vie0505, University of Vienna, Department of Economics.
- Christos Koulovatianos, 2005. "Preferences and the Dynamic Representative Consumer," Vienna Economics Papers 0505, University of Vienna, Department of Economics.
- Lilia Maliar & Serguei Maliar, 2004.
"Preference shocks from aggregation: time series data evidence,"
Canadian Journal of Economics, Canadian Economics Association, vol. 37(3), pages 768-781, August.
- Lilia Maliar & Serguei Maliar, 2004. "Preference shocks from aggregation: time series data evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(3), pages 768-781, August.
- Lilia Maliar & Serguei Maliar, 2003. "Preference Shocks From Aggregation: Time Series Data Evidence," Working Papers. Serie AD 2003-35, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Marcel Aloy & Gilles de Truchis, 2012.
"Estimation and Testing for Fractional Cointegration,"
AMSE Working Papers
1215, Aix-Marseille School of Economics, France.
- Marcel Aloy & Gilles de Truchis, 2012. "Estimation and Testing for Fractional Cointegration," Working Papers halshs-00793206, HAL.
- Koulovatianos, Christos & Schröder, Carsten & Schmidt, Ulrich, 2014. "Do demographics prevent consumer aggregates from reflecting micro-level preferences?," CFS Working Paper Series 484, Center for Financial Studies (CFS).
- Cecilia García-Peñalosa & Stephen J. Turnovsky, 2012.
"Income Inequality, Mobility, and the Accumulation of Capital. The role of Heterogeneous Labor Productivity,"
AMSE Working Papers
1216, Aix-Marseille School of Economics, France.
- Cecilia García-Peñalosa & Stephen J. Turnovsky, 2012. "Income Inequality, Mobility, and the Accumulation of Capital: The Role of Heterogeneous Labor Productivity," Working Papers halshs-00793209, HAL.
- Toda, Alexis Akira & Walsh, Kieran James, 2024.
"Recent advances on uniqueness of competitive equilibrium,"
Journal of Mathematical Economics, Elsevier, vol. 113(C).
- Alexis Akira Toda & Kieran James Walsh, 2024. "Recent Advances on Uniqueness of Competitive Equilibrium," Papers 2402.00998, arXiv.org.
- Michael Jerison, 2023. "Social welfare and the unrepresentative representative consumer," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 25(1), pages 5-28, February.
- Cecilia García‐Peñalosa & Stephen J. Turnovsky, 2011.
"Taxation and Income Distribution Dynamics in a Neoclassical Growth Model,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(8), pages 1543-1577, December.
- Cecilia Garc√Ça-Pe√Ëalosa & Stephen J. Turnovsky, 2011. "Taxation and Income Distribution Dynamics in a Neoclassical Growth Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(8), pages 1543-1577, December.
- Cecilia Garcìa-Peñalosa & Stephen J. Turnovsky, 2008. "Taxation and Income Distribution Dynamics in a Neoclassical Growth Model," Working Papers halshs-00341001, HAL.
- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009.
"Quantitative Macroeconomics with Heterogeneous Households,"
Annual Review of Economics, Annual Reviews, vol. 1(1), pages 319-354, May.
- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009. "Quantitative Macroeconomics with Heterogeneous Households," NBER Working Papers 14768, National Bureau of Economic Research, Inc.
- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009. "Quantitative macroeconomics with heterogeneous households," Staff Report 420, Federal Reserve Bank of Minneapolis.
- Chiuri, Maria Concetta, 2000.
"Individual decisions and household demand for consumption and leisure,"
Research in Economics, Elsevier, vol. 54(3), pages 277-324, September.
- Maria Concetta Chiuri, 1999. "Individual Decisions and Household Demand for Consumption And Leisure," CSEF Working Papers 26, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- José Victor Rios-Rull, 2002. "Desigualdad, ¿qué sabemos?," Investigaciones Economicas, Fundación SEPI, vol. 26(2), pages 221-254, May.
- Gokan, Yoichi & Turnovsky, Stephen J., 2023. "Taylor rules: Consequences for wealth and income inequality," Journal of Macroeconomics, Elsevier, vol. 77(C).
- Cherrier, Beatrice & Duarte, Pedro Garcia & Saïdi, Aurélien, 2023.
"Household heterogeneity in macroeconomic models: A historical perspective,"
European Economic Review, Elsevier, vol. 158(C).
- Beatrice Cherrier & Pedro Garcia Duarte & Aurélien Saïdi, 2023. "Household Heterogeneity in Macroeconomic Models: A Historical Perspective," Post-Print hal-04108500, HAL.
- Aurélien Saïdi & Beatrice Cherrier & Pedro Garcia Duarte, 2024. "Household heterogeneity in macroeconomic models : A historical perspective," Post-Print hal-04425385, HAL.
- Aurélien Saïdi & Beatrice Cherrier & Pedro Garcia Duarte, 2023. "Household heterogeneity in macroeconomic models : A historical perspective," Post-Print hal-04425386, HAL.
More about this item
Keywords
Aggregation of preferences; Planner's problem; Social utility function; Social welfare; Gorman aggregation;All these keywords.
NEP fields
This paper has been announced in the following NEP Reports:- NEP-UPT-2006-02-05 (Utility Models and Prospect Theory)
Statistics
Access and download statisticsCorrections
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:ivi:wpasad:2005-25. 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: Departamento de Edición (email available below). General contact details of provider: https://edirc.repec.org/data/ievages.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.