Single-Valuedness of the Demand Correspondence and Strict Convexity of Preferences: An Equivalence Result

Ennio Bilancini and Leonardo Boncinelli

Center for Economic Research (RECent) from University of Modena and Reggio E., Dept. of Economics "Marco Biagi"

Abstract: If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and B¨ohm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.

Keywords: Strict convexity; Strict monotonicity; Demand correspondence; Single-valuedness; Demand function (search for similar items in EconPapers)
JEL-codes: D11 (search for similar items in EconPapers)
Pages: pages 6
Date: 2009-10
New Economics Papers: this item is included in nep-upt
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Published in ECONOMICS LETTERS, 2010, vol. 108, pp. 299-302

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Journal Article: Single-valuedness of the demand correspondence and strict convexity of preferences: An equivalence result (2010)
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