Economics and Consumer Behavior
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Book Overview
This classic text has introduced generations of students to the economic theory of consumer behaviour. Written by 2015 Nobel Laureate Angus Deaton and John Muellbauer, the book begins with a self-contained presentation of the basic theory and its use in applied econometrics. These early 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.
Format:Paperback
Language:English
ISBN:0521296765
ISBN13:9780521296762
Release Date:May 1980
Publisher:Cambridge University Press
Length:466 Pages
Weight:1.47 lbs.
Dimensions:0.9" x 6.0" x 8.9"
Customer Reviews
3 ratings
Very Good Quality
Published by Thriftbooks.com User , 18 years ago
I'm satisfied with this book in the view of the quality of contents and status of book. Very good!!
Still a great textbook
Published by Thriftbooks.com User , 20 years ago
It is true that this book is now a bit dated. However, first, much of the foundations of microeconomic theory has not changed since the 80s and, second, this book contains a great deal that more "modern" micro textbooks (such as Mas-Colell, Whinston, and Green MWG) do not even mention. In particular, if your interest lies mostly in APPLIED work, this book is, in my opinion, superior to MWG. The chapters on demand are superb, and not surprisingly you still see them cited in hundreds of recent papers. I stress the fact that here you will not only learn about the building blocks of consumer theory, but you will also see actual APPLICATIONS of the estimation of demand systems (including the now famous Almost Ideal Demand System "invented" by the authors themselves). This textbook is invaluable for those who want to have a rigorous primer on demand, and demand estimation. Also excellent are the treatment of non-linear budget constraints, and price indexes. The book is also VERY well written, and intuition is almost always provided. On the minus side, game theory and contract theory are not covered at all, but these are topics that are covered well in many other books (including MWG).
A useful text
Published by Thriftbooks.com User , 24 years ago
Even if somewhat dated, this text still gives a clear and pertinent exposition of consumer behaviour theory. It is an unavoidable introduction to further literature on the topic, such as Deaton's work.
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