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- Title
Revealed preference and differentiable demand.
- Authors
Lee, Peter M. H.; Kam-Chau Wong
- Abstract
We prove that, for finitely many demand observations, the Strong Axiom of Revealed Preference tests not only the existence of a strictly concave, strictly monotone and continuous utility generator, but also one that generates an infinitely differentiable demand function. Our results extend those of previous related results (Matzkin and Richter. 1991; Chiappori and Rochet, 1987). yielding differentiable demand functions but without requiring differentiable utility functions.
- Subjects
CONSUMER preferences; NONPARAMETRIC statistics; ECONOMIC demand; UTILITY functions; ECONOMICS
- Publication
Economic Theory, 2005, Vol 25, Issue 4, p855
- ISSN
0938-2259
- Publication type
Article
- DOI
10.1007/s00199-004-0479-3