Demand Functions and a Characterization of Reflexivity

نویسنده

  • Ioannis A. Polyrakis
چکیده

We show that in reflexive Banach spaces there are two classes of closed cones (consumption sets) i.e. cones whose any budget set is bounded and cones whose any budget set is unbounded. We prove that in the first category of these cones the demand correspondence of any upper semicontinuous preference relation exists and we show also that this property characterizes the reflexive spaces. Moreover we prove that in this class of cones, the demand correspondence of any convex, continuous preference relation is upper hemicontinuous. To prove these results we use some tools from the theory of Banach spaces. JEL Classification numbers: D500, D510.

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تاریخ انتشار 2006