Aggregation under complete markets

Masao Ogaki

doi:10.1016/S1094-2025(03)00037-1

Aggregation under complete markets

Masao Ogaki

Research output: Contribution to journal › Article › peer-review

3 Citations (Scopus)

Abstract

This paper proves a complete market aggregation result for a multiple good economy in which the consumers have time-additive, von Neumann-Morgenstern utility functions. This result applies to all concave intraperiod functions, and provides a contrast to many of the results in the microeconomics literature which depend on such stringent assumptions as linear Engel curves.

Original language	English
Pages (from-to)	977-986
Number of pages	10
Journal	Review of Economic Dynamics
Volume	6
Issue number	4
DOIs	https://doi.org/10.1016/S1094-2025(03)00037-1
Publication status	Published - 2003 Oct
Externally published	Yes

Keywords

Aggregate demand function
Complete markets

ASJC Scopus subject areas

Economics and Econometrics

Access to Document

10.1016/S1094-2025(03)00037-1

Cite this

@article{051f6aa2e42e4ece9297345475eaca96,

title = "Aggregation under complete markets",

abstract = "This paper proves a complete market aggregation result for a multiple good economy in which the consumers have time-additive, von Neumann-Morgenstern utility functions. This result applies to all concave intraperiod functions, and provides a contrast to many of the results in the microeconomics literature which depend on such stringent assumptions as linear Engel curves.",

keywords = "Aggregate demand function, Complete markets",

author = "Masao Ogaki",

year = "2003",

month = oct,

doi = "10.1016/S1094-2025(03)00037-1",

language = "English",

volume = "6",

pages = "977--986",

journal = "Review of Economic Dynamics",

issn = "1094-2025",

publisher = "Academic Press Inc.",

number = "4",

}

TY - JOUR

T1 - Aggregation under complete markets

AU - Ogaki, Masao

PY - 2003/10

Y1 - 2003/10

N2 - This paper proves a complete market aggregation result for a multiple good economy in which the consumers have time-additive, von Neumann-Morgenstern utility functions. This result applies to all concave intraperiod functions, and provides a contrast to many of the results in the microeconomics literature which depend on such stringent assumptions as linear Engel curves.

AB - This paper proves a complete market aggregation result for a multiple good economy in which the consumers have time-additive, von Neumann-Morgenstern utility functions. This result applies to all concave intraperiod functions, and provides a contrast to many of the results in the microeconomics literature which depend on such stringent assumptions as linear Engel curves.

KW - Aggregate demand function

KW - Complete markets

UR - http://www.scopus.com/inward/record.url?scp=0242676951&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0242676951&partnerID=8YFLogxK

U2 - 10.1016/S1094-2025(03)00037-1

DO - 10.1016/S1094-2025(03)00037-1

M3 - Article

AN - SCOPUS:0242676951

SN - 1094-2025

VL - 6

SP - 977

EP - 986

JO - Review of Economic Dynamics

JF - Review of Economic Dynamics

IS - 4

ER -

Aggregation under complete markets

Abstract

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this