A consumption model with separability and imperfect decision makers

• Autores: José Manuel Gutiérrez Jiménez
• Localización: Top, ISSN-e 1863-8279, ISSN 1134-5764, Vol. 15, Nº. 1, 2007, págs. 89-102
• Idioma: inglés
• DOI: 10.1007/s11750-007-0004-5
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• Resumen

  • A consumption model is considered, where agents may have a simplified image of reality and a simplified way of reaching decisions. Some rules of behaviour are assumed, considering, in particular, the decision-theoretic ideas of decentralization and price aggregation. The consumers have a price-independent relative income distribution. The existence and unicity of temporary equilibria are investigated