Skip to main content Accessibility help
×
Hostname: page-component-848d4c4894-tn8tq Total loading time: 0 Render date: 2024-06-23T07:07:56.995Z Has data issue: false hasContentIssue false

Preface

Published online by Cambridge University Press:  05 June 2012

Get access

Summary

This book is about the economic theory of consumer behavior and its uses in economic analysis. It is about the tools and language of utility theory and their application to a field that ranges from empirical work on commodity demand to abstract questions of social choice. The basic theory is the familiar one, although we have made extensive use of cost functions and related “duality” concepts to present it in a way that simplifies what is often seen as difficult or inaccessible material. This, and the range of subject matter, broader than any previous book on consumer behavior, are the most distinctive features of the book. Our main purpose in writing it is to provide in. one place a complete toolbox of utility theory together with a demonstration of the power of these tools in action over a wide front of economics. Although the use of utility theory runs as a common thread throughout the book, only a fraction of the space deals with the standard textbook model of choice subject to a linear budget constraint. In recent years, important work has been done in many areas of economics by applying consumer theory to nonstandard situations, for example, to discrete choice, to rationing, to labor supply, to fertility, to quality choice, to choice with complex nonlinear budget constraints resulting from tax and benefit systems, liquidity constraints, uncertainty, and so on. Most of this work emphasizes careful modeling of the constraints that consumers face, including the statistical and econometric consequences.

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 1980

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×