关联替代品与需求的可逆性

Connected Substitutes and Invertibility of Demand

Econometrica · 2013
被引 99
人大 A+FT50ABS 4*

中文导读

提出“关联替代品”概念,证明该结构足以保证非参数非可分需求系统的可逆性,对需求识别、估计、显示偏好检验及瓦尔拉斯均衡价格唯一性有重要意义。

Abstract

We consider the invertibility (injectivity) of a nonparametric nonseparable demand system. Invertibility of demand is important in several contexts, including identification of demand, estimation of demand, testing of revealed preference, and economic theory exploiting existence of an inverse demand function or (in an exchange economy) uniqueness of Walrasian equilibrium prices. We introduce the notion of "connected substitutes" and show that this structure is sufficient for invertibility. The connected substitutes conditions require weak substitution between all goods and sufficient strict substitution to necessitate treating them in a single demand system. The connected substitutes conditions have transparent economic interpretation, are easily checked, and are satisfied in many standard models. They need only hold under some transformation of demand and can accommodate many models in which goods are complements. They allow one to show invertibility without strict gross substitutes, functional form restrictions, smoothness assumptions, or strong domain restrictions. When the restriction to weak substitutes is maintained, our sufficient conditions are also "nearly necessary" for even local invertibility.

需求可逆性连通替代品非参数需求系统弱替代性