If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and Böhm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.
Single-Valuedness of the Demand Correspondence and Strict Convexity of Preferences: An Equivalence Result
BONCINELLI, LEONARDO
2010-01-01
Abstract
If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and Böhm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.File in questo prodotto:
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