Demand aggregation and the weak axiom of stochastic revealed preference

• 成果类型: Article
• 署名作者: Bandyopadhyay, T; Dasgupta, I; Pattanaik, PK
• 署名单位: University of California System; University of California Riverside; University of Nottingham
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1006/jeth.2001.2948
• 发表日期: 2002
• 页码: 483-489
• 关键词: stochastic demand function; Weak axiom of revealed preference; weak axiom of stochastic revealed preference; demand aggregation

摘要

We address the problem of aggregating demand across a group of consumers, who are identical in terms of wealth and face identical price vectors, but vary in their chosen consumption bundles. We show that, when a stochastic demand function is constructed to aggregate a number of deterministic demand functions, satisfaction of the weak axiom of stochastic revealed preference by this stochastic demand function is weaker than the restriction that every underlying deterministic demand function satisfy Samuelson's weak axiom of revealed preference. (C) 2002 Elsevier Science (USA).