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OverviewProvides a general characterization of group behavior in a market environment. A crucial feature of the authors' approach is that they do not restrict the form of individual preferences or the nature of individual consumptions. They allow for public as well as private consumption, for intragroup production, and for any type of consumption externalities across group members. The main questions addressed are: what restrictions (if any) on the aggregate demand function characterize the efficient behavior of the group and when is it possible to recover the underlying structure - namely, individual preferences, the decision process and the resulting intragroup transfers - from the group's aggregate behavior? The Economics and Mathematics of Aggregation takes an alternative, axiomatic perspective - the 'collective' approach - and assumes that the group always reaches Pareto efficient decisions. The authors view efficiency as a natural assumption in many contexts and as a natural benchmark in all cases. Finally, even in the presence of asymmetric information, first best efficiency is a natural benchmark. However, it is important to note that no restriction is placed on the form of the decision process beyond efficiency. Full Product DetailsAuthor: P. A. Chiappori , Ivar EkelandPublisher: now publishers Inc Imprint: now publishers Inc Volume: 21 Dimensions: Width: 15.60cm , Height: 0.90cm , Length: 23.40cm Weight: 0.243kg ISBN: 9781601982889ISBN 10: 1601982887 Pages: 166 Publication Date: 13 November 2009 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: In Print This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsIntroduction. 1. The basic structure. 2. Characterizing group demand: necessary and sufficient conditions. 3. Identification. 4. Aggregation in Market Economies. 5. Constraints on trade and consumption. 6. A User's Guide to Exterior Differential Calculus. Bibliography.ReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |