Preferences and normal goods: A necessary and sufficient condition

Alarie, Yves; Bronsard, C.; Ouellette, Pierre

doi:10.1016/0022-0531(90)90026-g

Cited by 11 publications

(12 citation statements)

References 9 publications

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“…Specifically, our Assumption 3 for the

K = 2

case is necessary and sufficient for the resulting function − V to satisfy the condition given in Alarie and Bronsard (1990) and Bilancini and Boncinelli (2010), and our Assumption 5 (“Perpetual Complementarity”) can be shown to imply that

U = - V

is not only concave but also super‐modular, thus coinciding with the condition given by Chipman (1977) and Quah (2007). Generalizing beyond Perpetual Complementarity, we use the special form of V to develop alternative sufficient conditions.…”

Section: Explanation Of Resultsmentioning

confidence: 89%

“…The literature on consumer demand provides conditions on U that imply normality of demand. When there are just two goods, Alarie and Bronsard (1990) and Bilancini and Boncinelli (2010) showed that demand is normal if and only if

\partial_{i j} U \cdot \partial_{j} U \geq \partial_{i} U \cdot \partial_{j j} U

for

i, j \in false{1, 2 false}

. For more than two goods, a sufficient condition for normality of demand given by Chipman (1977), and more recently generalized by Quah (2007), is concavity and super‐modularity of U 14…”

Section: Explanation Of Resultsmentioning

confidence: 99%

See 1 more Smart Citation

Dynamically Aggregating Diverse Information

Liang

Syrgkanis

2022

ECTA

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An agent has access to multiple information sources, each modeled as a Brownian motion whose drift provides information about a different component of an unknown Gaussian state. Information is acquired continuously—where the agent chooses both which sources to sample from, and also how to allocate attention across them—until an endogenously chosen time, at which point a decision is taken. We demonstrate conditions on the agent's prior belief under which it is possible to exactly characterize the optimal information acquisition strategy. We then apply this characterization to derive new results regarding: (1) endogenous information acquisition for binary choice, (2) the dynamic consequences of attention manipulation, and (3) strategic information provision by biased news sources.

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“…Specifically, our Assumption 3 for the

K = 2

U = - V

Section: Explanation Of Resultsmentioning

confidence: 89%

\partial_{i j} U \cdot \partial_{j} U \geq \partial_{i} U \cdot \partial_{j j} U

for

i, j \in false{1, 2 false}

. For more than two goods, a sufficient condition for normality of demand given by Chipman (1977), and more recently generalized by Quah (2007), is concavity and super‐modularity of U 14…”

Section: Explanation Of Resultsmentioning

confidence: 99%

Dynamically Aggregating Diverse Information

Liang

Syrgkanis

2022

ECTA

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show abstract

“…Alarie, Bronsard et Ouellette, 1990). Dans un monde où le problème du consommateur contiendrait en plus des rationnements sur X 2 , elle impliquerait que tous les effets-revenu contraints soient strictement positifs.…”

Section: Les Multiplicateursunclassified

De la variété de Patinkin-Malinvaud à l’optimum macroéconomique de court terme

Bronsard

Salvas‐Bronsard

2009

Self Cite

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RÉSUMÉ -En éliminant certaines des conditions nécessaires à l'équilibre walrasien, on obtient une variété différentiable que nous avons appellée ici variété de Patinkin-Malinvaud puisque cette façon de faire revient à prendre la méthodologie de ces auteurs. En plus de fournir un modèle simple qui soit assez souple pour contenir, sans rupture structurelle, autant l'équilibre walrasien temporaire que l'équilibre keynésien, autant la théorie des cycles réels que celle de la stabilité keynésienne (du moins dans leur principe), elle permet d'étudier l'optimalité des équilibres mentionnés plus haut dans le contexte qui leur est propre, c'est-à-dire le contexte temporaire et ce du point de vue du premier comme du second rang.ABSTRACT -When some necessary Walrasian conditions are eliminated, a différentiable manifold is obtained. Hère, it is called the Patinkin-Malinvaud manifold since our device to define it amounts to recover the methodology of thèse authors. Such a methodology is sufficient to contain in the same logical structure the temporary Walrasian equilibrium, the Keynesian equilibrium, the real business cycle theory and the Keynesian stability theory (at least in their principle). Moreover, the optimality of the above equilibria is studied in their natural context, that is, the temporary one, from the first best viewpoint and the second best viewpoint.

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“…Ceci donne une image saisissante de l'optimum macroéconomique : on laisse à la micro de parfaire le détail, c'est-à-dire les égalités entre chaque TMS et chaque TMT. Un point important de cette démonstration se trouve dans Alarie et al (1989).…”

Section: L'optimum Macroéconomiqueunclassified

Preferences and normal goods: A necessary and sufficient condition

Cited by 11 publications

References 9 publications

Dynamically Aggregating Diverse Information

Dynamically Aggregating Diverse Information

De la variété de Patinkin-Malinvaud à l’optimum macroéconomique de court terme

Fonctions d’anticipation et équilibres non walrassiens : un état de la question — et un manifeste

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