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Economics and consumer behavior

Author: Deaton, Angus ; Muellbauer, JohnPublisher: Cambridge University Press (CUP) 1980.Language: EnglishDescription: 450 p. ; 23 cm.ISBN: 0521296765Type of document: BookBibliography/Index: Includes bibliographical references and index
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Item type Current location Collection Call number Status Date due
Book Doriot Library
Main Collection
Print HB801 .D36 1980
(Browse shelf)
000149025
Available

Includes bibliographical references and index

Digitized

Economics and Consumer Behavior
Contents
List of tables and figures page viii
Preface xii
PART ONE CONSUMER DEMAND ANALYSIS 1
1 The limits to choice 3
1.1 The nature of opportunity sets 4
1.2 The implications of a linear budget constraint 14
2 Preferences and demand 25
2.1 Axioms and utility 26
2.2 Utility and demand 31
2.3 Cost minimization and the cost function 37
2.4 Properties of demands 43
2.5* Duality in the theory of demand 47
2.6* Revealed preference theory 51
2.7** The distance function 53
3 The theory at work 60
3.1 Stone's analysis 61
3.2 The linear expenditure system 64
3.3 Testing the theory 67
3.4 A new model of demand 75
3.5 An assessment 78
4 Extensions to the basic model 86
4.1 The simple neoclassical model of labor supply 86
4.2 Intertemporal extensions, the consumption function, and
durable goods 97
4.3 Constraints on purchases and rationing 109
PART TWO SEPARABILITY AND AGGREGATION 117
5 Restrictions on preferences 119
5.1 Commodity groups and separability: an elementary overview 120
5.2* Separability and two-stage budgeting: further results 127
5.3 Strong separability and additive preferences 137
5.4 Homotheticity and quasi homotheticity 142
6 The theory of market demand 148
6.1 Exact linear aggregation 149
6.2* Exact nonlinear aggregation 154
6.3 Aggregation with endogenous labor supply 159
6.4 Aggregation under restrictions 161
PART THREE WELFARE AND
CONSUMER BEHAVIOR 167
7 Consumer index numbers 169
7.1 The true index of the cost of living 170
7.2 Quantity indices and real consumption indices 179
7.3 Cost-of-living subindices 182
7.4 Consumer surplus 184
8 Household characteristics, demand, and household
welfare comparisons 191
8.1 Engel's approach 193
8.2 Commodity specific generalizations of Engel's model 196
8.3 Empirical applications 202
8.4 Equivalence scales in perspective 205
9 Social welfare and inequality 214
9.1 Social welfare functions and their arguments 214
9.2 . Social welfare and inequality 227
PART FOUR EXTENSIONS AND APPLICATIONS 241
10 The quality of goods and household production theory 243
10.1 Household production theory 245
10.2 The relevance of household production theory to quality
measurement 254
10.3 An alternative view of quality 260
10.4 Other aspects of quality 270
11 Labor supply 273
11.1 The participation decision 273
11.2 Nonlinear constraints and restrictions on hours 281
11.3 Labor supply in the long run 294
12 The consumption function and intertemporal choice 309
12.1 Intertemporal planning and the life cycle 309
12.2 The dynamics of income and consumption 325
12.3 Information 336
12.4 Consistency in intertemporal choice 340
13 The demand for durable goods 345
13.1 Neoclassical models 347
13.2 Stock-adjustment models and costs of adjustment 352
13.3 The discretionary replacement model 355
13.4 Constraints on sales and on borrowing 359
13.5 Discrete choice, diffusion, and cross-section analysis 366
13.6 Habits and tags 373
14 Choice under uncertainty 380
14.1 The characterization of uncertainty 381
14.2 The axioms of choice under uncertainty and expected utility
maximization 387
14.3 Some standard applications: risk aversion and the allocation of
wealth 395
14.4 Intertemporal consumption decisions under uncertainty 405
14.5 Other applications: the theory of search 410
References 414
List of notation 437
Name index 443
Subject index 447

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