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Uniformity of consumer preferences: there is a demand curve?

Uniformity of consumer preferences: there is a demand curve?

Journal of Economic Regulation, , Vol. 4 (no. 4),
p. 60-72

Demand function and the corresponding analysis of the dependence between the demand and the price are the most important part of the modern mainstream. Their existence is usually not questioned. However, they are based on the premise of having uniformity in consumer preferences. That uniformity (and monotony) allows to represent these functions by means of curves or straight lines with a negative slope. But how realistic is the homogeneity premise? Is there - and if so, for what benefits - functional dependence between price changes and volume of demand for the goods? The law of demand realization in relation to private goods at first, and then - to quasi-public (mixed) goods is considered in the paper.

Keywords: homogeneity in consumer preferences; demand function; private goods; public goods; antigoods

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Publisher: Ltd. "Humanitarian perspectives"
Founder: Southern Federal University
ISSN: 2078-5429