Deaton muellbauer economics and consumer behavior pdf
The Economic Theory of the Consumer | SpringerLinkJournal of Family and Economic Issues. This study analyzes consumption patterns of seven major categories of food for Chinese urban households using both nonparametric and parametric approaches. Nonparametric analysis was conducted to ensure that the data were consistent with the underlying theory. Chinese provincial data from the Income and Expenditure Survey of Chinese Urban Households showed that Chinese consumers' consumption behavior is consistent with the microeconomic utility maximization assumptions. The parametric analysis shows that in China from to , meats, fruits, and eggs had very high expenditure elasticities. Grains were a necessity for low-income provinces but were an inferior good for high-income provinces. The results are useful in understanding and predicting food consumption patterns in China and have implications for economic policy decision making.
The Economic Theory of the Consumer
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October 12, 2015
Written by 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 demand function for a single commodity explains how changes in income and the prices of all goods affect the quantity consumed of that commodity.
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.