The characterization of demand and excess demand functions, revisited
Marwan Aloqeili ()
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Marwan Aloqeili: Birzeit University
Decisions in Economics and Finance, 2020, vol. 43, issue 2, No 15, 707 pages
Abstract:
Abstract In this note, the characterization problem of individual demand and excess demand functions is revisited. It is assumed that the individual’s income is price dependent. When the income function is homogeneous of degree one, we show that similar conditions characterize both demand and excess demand functions.
Keywords: Individual demand; Excess demand; Homogeneous functions; Slutsky matrix (search for similar items in EconPapers)
JEL-codes: C02 D11 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s10203-020-00303-w
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