heckler73
Well-Known Member
RE: Law of Demand
Sonnenschein-Mantel-Debreu Theorem
http://en.wikipedia.org/wiki/Sonnenschein–Mantel–Debreu_theorem
Summary:
Wealth effect can screw the "Law". Any shape you can think of can potentially be a (market) "demand curve"--so long as it is 1-to-1 over time.
Sonnenschein-Mantel-Debreu Theorem
http://en.wikipedia.org/wiki/Sonnenschein–Mantel–Debreu_theorem
Summary:
Wealth effect can screw the "Law". Any shape you can think of can potentially be a (market) "demand curve"--so long as it is 1-to-1 over time.