Economics and Consumer Behavior

by Angus Deaton , John Muellbauer

• ISBN13: 9780521296762
• ISBN10: 0521296765
• Format: Paperback
• Copyright: 1980-05-30
• Publisher: Cambridge University Press

Summary

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.

Table of Contents

List of tables and figures

Preface

Part I. Consumer Demand Analysis: 1. The limits to choice

2. Preferences and demand

3. The theory at work

4. Extensions to the basic model

Part II. Separability and Aggregation: 5. Restrictions on preferences

6. The theory of market demand

Part III. Welfare and Consumer Behaviour: 7. Consumer index numbers

8. Household characteristics, demand, and household welfare comparisons

9. Social welfare and inequality

Part IV. Extensions and Applications: 10. The quality of goods and household production theory

11. Labor supply

12. The consumption function and intertemporal choice

13. The demand for durable goods

14. Choice under uncertainty

References

List of notation

Name index

Subject index.