On Behavioral Heterogeneity

Werner Hildenbrand () and Alois Kneip ()
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Werner Hildenbrand: Universität Bonn
Alois Kneip: Universität Mainz

Chapter 13 in Institutions, Equilibria and Efficiency, 2006, pp 245-259 from Springer

Abstract: Summary An index of “behavioral heterogeneity” for every finite population of households is defined. It is shown that the higher the index of behavioral heterogeneity the less sensitive depends the aggregate consumption expenditure ratio upon prices. As a consequence, a high index implies a tendency for the Jacobian of aggregate demand to have a dominant negative diagonal.

Keywords: Aggregation; Behavioral heterogeneity; Mean demand (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/3-540-28161-4_13

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