Consider an economy in which households differ in behavior and disposable income: (i) we derive conditions on the joint distribution of both characteristics such that the Law of Demand holds for aggregate demand. We obtain that the poorer the household the less its behavior affects the structure...

The purpose of this note is to investigate how aggregation of households affects the variation of the index of heterogeneity as recently defined in Hildenbrand and Kneip (1999). We show the degree of heterogeneity of an entire population is at least as high as the smallest degree of...

This paper surveys recent approaches to the explanation of how the shape of mean demand is determined. The main focus is to address the following questions: Is it necessary to impose specific behavior of the households in order to achieve regularities of mean demand or is it sufficient to know...