Single-Valuedness of the Demand Correspondence and Strict Convexity of Preferences: An Equivalence Result

If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and B¨ohm, 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.

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Year of publication:	2009-10
Authors:	Bilancini, Ennio ; Boncinelli, Leonardo
Institutions:	Dipartimento di Economia "Marco Biagi", Università degli Studi di Modena e Reggio Emilia
Subject:	Strict convexity \| Strict monotonicity \| Demand correspondence \| Single-valuedness \| Demand function

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Extent:	application/pdf
Series:	Center for Economic Research (RECent).
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in ECONOMICS LETTERS, 2010, vol. 108, pp. 299-302 pages 6
Classification:	D11 - Consumer Economics: Theory
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008577767