Template-Type:ReDIF-Paper 1.0  
Title: On J.M. Grandmont's Modelling of Behavioral Heterogeneity
Author-Name: Hildenbrand, K.
Classification-JEL: 
Keywords:  Aggregate Demand, Aggregation, Behavioral Heterogeneity
Abstract: J.M. Grandmont claims in his paper "Transformations of the 
	Commodity Space, Behavioral Heterogeneity, and the Aggregation Problem" (1992) to model "behavioral heterogeneity". 
	By a specific parametrization he defines a subset of all demand functions and assumes that the distribution of the parameters is
	getting more dispersed (increasing flatness of the density function). This
	increasing dispersedness of the parameters is interpreted as "increasing heterogeneity" of the population of households described by the distribution of demand functions. But, due
	to the specific parametrization, increasing dispersedness of the parameters
	leads to an increasing concentration of the demand functions. Therefore,
	roughly speaking, Grandmont rather models increasing "behavioral
	similarity".
Length: pages
Creation-Date: 1998-07
Revision-Date: 
Handle: RePEc:bon:bonsfa:580
File-URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonsfa/bonsfa580.pdf
File-Format: application/pdf