Identification of Preferences from Market Data

Andrés Carvajal, Cowles Foundation for Research in Economics, Yale University, and Department of Economics, Royal Holloway College, University of London
Alvaro Riascos, Banco de la República, Universidad Nacional de Colombia and Universidad de los Andes

A BEJTE Advances article.

Abstract

We offer a new proof that the equilibrium manifold (under complete markets) identifies individual demands globally. Moreover, under observation of only a subset of the equilibrium manifold, we find domains on which aggregate and individual demands are identifiable. Our argument avoids the assumption of Balasko (2004) requiring the observation of the complete manifold.

Submitted: November 17, 2004 · Accepted: April 4, 2005 · Published: April 26, 2005

Originally published in Advances in Theoretical Economics.

Recommended Citation

Carvajal, Andrés and Riascos, Alvaro (2005) "Identification of Preferences from Market Data," Advances in Theoretical Economics: Vol. 5 : Iss. 1, Article 3.
Available at: http://www.bepress.com/bejte/advances/vol5/iss1/art3

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