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• W2005239713 abstract "Abstract It is shown that if a consumer's preference ordering is strictly convex and is representable by means of a concave, twice continuously differentiable utility function, then the partial derivative of a demanded commodity with respect to its price is bounded from above in a neighborhood of a price vector at which the demand fails to be differentiable. In the case of two commodities, if the demand does not possess finite derivatives with respect to prices at a certain point, then the partial ‘derivative’ of a commodity with respect to its price is equal to minus infinity. The same result holds for n commodities under ‘almost every’ choice of coordinates in the commodity space. If preferences are weakly convex but the same representation assumption holds, demand may not be single-valued but own-price difference quotients are still bounded from above." @default.
• W2005239713 created "2016-06-24" @default.
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• W2005239713 date "1987-01-01" @default.
• W2005239713 modified "2023-09-24" @default.
• W2005239713 title "On the demand generated by a smooth and concavifiable preference ordering" @default.
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• W2005239713 doi "https://doi.org/10.1016/0304-4068(87)90006-1" @default.
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