Individual excess demands

Chiappori, Pierre-André; Ekeland, Ivar

Chiappori, Pierre-André; Ekeland, Ivar (2004), Individual excess demands, Journal of Mathematical Economics, 40, 1-2, p. 41-57. http://dx.doi.org/10.1016/j.jmateco.2003.11.003

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Type

Article accepté pour publication ou publié

Date

2004

Journal name

Journal of Mathematical Economics

Volume

Number

1-2

Publisher

Elsevier

Pages

41-57

Abstract (EN)

We characterize the excess demand function in the one-consumer model. We describe the relation between the direct and indirect utility functions. As an application of our result, we derive a short proof of the celebrated Sonnenschein–Mantel–Debreu theorem on the decomposition of aggregate excess demand.

Subjects / Keywords

Optimization; Homogeneous; Quasi-convex