Deaton muellbauer economics and consumer behavior pdf
Environmental Economics: Deaton and Muellbauer, Economics and Consumer Behavior ()The system can't perform the operation now. Try again later. Citations per year. Duplicate citations. The following articles are merged in Scholar.
Economics and Consumer Behavior
The demand function for a single commodity explains how changes in income and the prices of all goods affect the quantity consumed of that commodity. The objective of consumption theory is to derive testable hypotheses about the demand functions. These hypotheses take the form of theoretical restrictions on the demand functions, for example, demand homogeneity, Slutsky symmetry, etc. These restrictions come from the utility-maximizing theory of consumer behaviour. Consequently, the objective of this chapter is to set out the theory of the utility-maximizing consumer and the derivation of the demand equations. There are a number of ways of deriving demand equations, including i the direct specification of the functional form of the demand equations; ii the specification of the direct utility function; iii the specification of the indirect utility function; iv the specification of the cost function; and v the application of the differential approach. Unable to display preview.
Journal of Family and Economic Issues.
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October 12, 2015
The idea of duality has proved to be a powerful device in modern work on the economics of consumer behaviour. The authors have used duality to provide an integrated and accessible treatment of this subject. The book focuses on applications of the theory to welfare economics and econometric analysis. The book begins with four chapters that provide a self-contained presentation of the basic theory and its use in applied econometrics. These chapters also include elementary extensions of the theory to labour supply, durable goods, the consumption function, and rationing.