The Identification of Preferences from Market Data Under Uncertainty Documento de trabajo uri icon

Abstracto

  • We show that even under incomplete markets, the equilibrium manifold identifies aggregate demand and individual demands everywhere in their domains. Moreover, under partial observation of the equilibrium manifold, we construct maximal domains of identification. For this, we assume conditions of smoothness, interiority and regularity, but avoid implausible observational requirements. It is crucial that there be date-zero consumption. As a by-product, we develop some duality theory under incomplete markets.

fecha de publicación

  • 2005-08

Palabras clave

  • Identification

Número

  • 3599