The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses (1988) (Lecture Notes in Economics and Mathematical Systems #316)
By: and and and and
Sign Up Now!
Already a Member? Log In
You must be logged into UK education collection to access this title.
Learn about membership options,
or view our freely available titles.
- Synopsis
- In this book the foundations and applicability of the Generalized Fechner-Thurstone Utility Function are laid out. It is shown how by removing the constraint of fixed preferences in the neoclassical consumer theory, utility theory can be used to develop non-parametric indices along with elasticities of the marginal rates of substitutions. It is also shown that whereas the existence of a fixed preference utility function is not always guaranteed for different demand functions, there will always exist at least one Generalized Fechner-Thurstone Direct Utility Function. Furthermore, analysis using the Fechner-Thurstone Direct Utility Function is clear and simple and does not rely on ad hoc Taylor expansions. The construction of different true-cost-of-living indices, the comparison of North American consumers, and a habit formation model are developed to show the usefulness of the Generalized Fechner-Thurstone Direct Utility Function.
- Copyright:
- 1988
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9781468494013
- Related ISBNs:
- 9780387968537
- Publisher:
- Springer New York
- Date of Addition:
- 01/23/21
- Copyrighted By:
- N/A
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.
Reviews
Other Books
- by R.L. Basmann
- by D.J. Slottje
- by K. Hayes
- by J.D. Johnson
- by D.J. Molina
- in Nonfiction
- in Business and Finance