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The Finite Basis Property and Exact Aggregation

5 Pages Posted: 21 Jun 2011 Last revised: 11 Aug 2011

John M Heineke

Santa Clara University - Leavey School of Business

Hersh Shefrin

Santa Clara University - Leavey School of Business

Date Written: 1982

Abstract

An individual demand function is said to satisfy the finite basis property when its set of Engel curves has a finite spanning subset. In the present letter we discuss why this property underlies the theory of exact aggregation.

Suggested Citation

Heineke, John M and Shefrin, Hersh, The Finite Basis Property and Exact Aggregation (1982). Economics Letters, Vol. 9, p. 209, 1982. Available at SSRN: https://ssrn.com/abstract=1865904

John M Heineke (Contact Author)

Santa Clara University - Leavey School of Business ( email )

500 El Camino Real
Santa Clara, CA 95053
United States
408-554-4346 (Phone)
408-554-2331 (Fax)

Hersh Shefrin

Santa Clara University - Leavey School of Business ( email )

Dept. of Finance
Santa Clara, CA 95053
United States
408-554-6893 (Phone)
408-554-4029 (Fax)

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