UID:
almafu_9960119315802883
Format:
1 online resource (xiv, 450 pages) :
,
digital, PDF file(s).
ISBN:
1-107-71041-3
,
1-107-71294-7
,
0-511-80565-9
Content:
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. The rest of the book is divided into three parts. In the first of these the authors discuss restrictions on choice and aggregation problems. The next part consists of chapters on consumer index numbers; household characteristics, demand, and household welfare comparisons; and social welfare and inequality. The last part extends the coverage of consumer behaviour to include the quality of goods and household production theory, labour supply and human capital theory, the consumption function and intertemporal choice, the demand for durable goods, and choice under uncertainty.
Note:
Title from publisher's bibliographic system (viewed on 05 Oct 2015).
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Cover -- Half Title -- Title Page -- Copyright -- Contents -- List of tables and figures -- Preface -- Part One Consumer Demand Analysis -- 1 The limits to choice -- 1.1 The nature of opportunity sets -- 1.2 The implications of a linear budget constraint -- 2 Preferences and demand -- 2.1 Axioms and utility -- 2.2 Utility and demand -- 2.3 Cost minimization and the cost function -- 2.4 Properties of demands -- 2.5* Duality in the theory of demand -- 2.6* Revealed preference theory -- 2.7** The distance function -- 3 The theory at work -- 3.1 Stone's analysis -- 3.2 The linear expenditure system -- 3.3 Testing the theory -- 3.4 A new model of demand -- 3.5 An assessment -- 4 Extensions to the basic model -- 4.1 The simple neoclassical model of labor supply -- 4.2 Intertemporal extensions, the consumption function, and durable goods -- 4.3 Constraints on purchases and rationing -- Part Two Separability and Aggregation -- 5 Restrictions on preferences -- 5.1 Commodity groups and separability: an elementary overview -- 5.2* Separability and two-stage budgeting: further results -- 5.3 Strong separability and additive preferences -- 5.4 Homotheticity and quasi homotheticity -- 6 The theory of market demand -- 6.1 Exact linear aggregation -- 6.2* Exact nonlinear aggregation -- 6.3 Aggregation with endogenous labor supply -- 6.4 Aggregation under restrictions -- Part Three Welfare and Consumer Behavior -- 7 Consumer index numbers -- 7.1 The true index of the cost of living -- 7.2 Quantity indices and real consumption indices -- 7.3 Cost-of-living subindices -- 7.4 Consumer surplus -- 8 Household characteristics, demand, and household welfare comparisons -- 8.1 Engel's approach -- 8.2 Commodity specific generalizations of Engel's model -- 8.3 Empirical applications -- 8.4 Equivalence scales in perspective -- 9 Social welfare and inequality.
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9.1 Social welfare functions and their arguments -- 9.2 Social welfare and inequality -- Part Four Extensions and Applications -- 10 The quality of goods and household production theory -- 10.1 Household production theory -- 10.2 The relevance of household production theory to quality measurement -- 10.3 An alternative view of quality -- 10.4 Other aspects of quality -- 11 Labor supply -- 11.1 The participation decision -- 11.2 Nonlinear constraints and restrictions on hours -- 11.3 Labor supply in the long run -- 12 The consumption function and intertemporal choice -- 12.1 Intertemporal planning and the life cycle -- 12.2 The dynamics of income and consumption -- 12.3 Information -- 12.4 Consistency in intertemporal choice -- 13 The demand for durable goods -- 13.1 Neoclassical models -- 13.2 Stock-adjustment models and costs of adjustment -- 13.3 The discretionary replacement model -- 13.4 Constraints on sales and on borrowing -- 13.5 Discrete choice, diffusion, and cross-section analysis -- 13.6 Habits and lags -- 14 Choice under uncertainty -- 14.1 The characterization of uncertainty -- 14.2 The axioms of choice under uncertainty and expected utility maximization -- 14.3 Some standard applications: risk aversion and the allocation of wealth -- 14.4 Intertemporal consumption decisions under uncertainty -- 14.5 Other applications: the theory of search -- References -- List of notation -- Name index -- Subject index.
,
English
Additional Edition:
ISBN 0-521-29676-5
Additional Edition:
ISBN 0-521-22850-6
Language:
English
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