| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13586 |
| DP13586 Understanding Preferences: "Demand Types", and the Existence of Equilibrium with Indivisibilities | |
| Elizabeth Baldwin; Paul Klemperer | |
| 发表日期 | 2019-03-14 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | An Equivalence Theorem between geometric structures and utility functions allows new methods for understanding preferences. Our classification of valuations into "Demand Types" incorporates existing definitions (substitutes, complements, "strong substitutes", etc.) and permits new ones. Our Unimodularity Theorem generalises previous results about when competitive equilibrium exists for any set of agents whose valuations are all of a "demand type". Contrary to popular belief, equilibrium is guaranteed for more classes of purely-complements, than of purely-substitutes, preferences. Our Intersection Count Theorem checks equilibrium existence for combinations of agents with specific valuations by counting the intersection points of geometric objects. Applications include matching and coalition-formation, and the "Product-Mix Auction" introduced by the Bank of England in response to the financial crisis. |
| 主题 | Industrial Organization |
| 关键词 | Consumer theory Equilibrium existence Competitive equilibrium Indivisible goods Product mix auction Product-mix auction Demand type Matching Geometry Tropical geometry |
| URL | https://cepr.org/publications/dp13586 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542444 |
| 推荐引用方式 GB/T 7714 | Elizabeth Baldwin,Paul Klemperer. DP13586 Understanding Preferences: "Demand Types", and the Existence of Equilibrium with Indivisibilities. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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