A consumption model with separability and imperfect decision makers
ISSN: 1863-8279, 1134-5764
Year of publication: 2007
Volume: 15
Issue: 1
Pages: 89-102
Type: Article
More publications in: Top
Abstract
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