The equilibrium manifold keeps the memory of individual demand functions

Yves Balasko

Economic Theory, 2004, vol. 24, issue 3, 493-501

Abstract: It is shown that the property that the equilibrium manifold keeps the memory of the individual demand functions holds true if every individual demand function satisfies the following three properties: 1) It is a function of commodity prices and of consumer’s income; 2) Consumption belongs to the nonnegative orthant of the commodity space; 3) Walras law. Neither differentiability nor continuity are necessary. In addition, the demand functions do not have to be utility maximizing subject to budget constraints. Copyright Springer-Verlag Berlin/Heidelberg 2004

Keywords: Equilibrium manifold; Demand functions. (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1007/s00199-004-0473-9

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