A consumption model with separability and imperfect decision makers |
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Authors: | José Manuel Gutiérrez |
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Affiliation: | (1) Facultad de Economía y Empresa, Universidad de Salamanca, Salamanca, 37008, Spain |
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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. |
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Keywords: | Separability Decision analysis Bounded rationality Consumption economy |
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