Demand Analysis with Aggregation Systems

AbstractThe demand is a fundamental variable in economic analysis that measures the needs of goods and services of the consumers. This paper presents a new approach for representing the demand by using aggregation systems that consider the attitudinal character of the consumers and their beliefs regarding the degree of importance of the different variables that may affect them. Several developments are introduced by using multiperson systems, different criterion, attributes, and states of nature. These developments are focused on the use of the weighted average, the ordered weighted average, and the ordered weighted averaging weighted average. Further aggregation systems are suggested by using the concept of the demand growth. The paper ends with an application of the new approach in a forecasting process that considers the attitude of the decision maker and its subjective beliefs.