Identification of Individual Demands from Market Data under Uncertainty

Carvajal Andres and Alvaro Riascos ()
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Carvajal Andres: University of Warwick, a.m.carvajal@warwick.ac.uk

The B.E. Journal of Theoretical Economics, 2008, vol. 8, issue 1, 30

Abstract: We show that, even under incomplete markets, the equilibrium manifold identifies individual demands everywhere in their domains. Under partial observation of the manifold, we determine maximal subsets of the domains on which identification holds. For this, we assume conditions of smoothness, interiority and regularity. It is crucial that there be date-zero consumption. As a by-product, we develop a duality theory under incomplete markets.

Keywords: identification; equilibrium manifold; incomplete markets (search for similar items in EconPapers)
Date: 2008
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DOI: 10.2202/1935-1704.1420

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