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Welfare, Vol. 1: Aggregate Consumer Behavior - Hardcover

 
9780262100625: Welfare, Vol. 1: Aggregate Consumer Behavior

Synopsis

This volume presents a new approach to econometric modeling of aggregate consumer behavior. The approach has successfully extricated demand modeling from the highly restrictive framework provided for more than half a century by the model of a representative consumer. Like the representative consumer model that preceded it, the new approach rests on the theory of individual behavior. The centerpiece of the volume is an econometric model of demand obtained by aggregating over a population of utility-maximizing consumers.

The essential innovation is to incorporate attributes of consumers reflecting heterogeneous preferences into a model of aggregate behavior. Heterogeneity is captured by allowing preferences to depend on the demographic characteristics of households. This model unifies the two principal streams of empirical research on consumer behavior by pooling aggregate time series with cross-section data for individual households and provides a new point of departure for future research.

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About the Author

Dale W. Jorgenson is Frederic Eaton Abbe Professor of Economics at Harvard University.

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Jorgenson, Dale W.
Published by The MIT Press, 1997
ISBN 10: 0262100622 ISBN 13: 9780262100625
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Jorgenson, Dale W.
Published by The MIT Press, 1997
ISBN 10: 0262100622 ISBN 13: 9780262100625
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Jorgenson, Dale W.
ISBN 10: 0262100622 ISBN 13: 9780262100625
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Hardcover. Condition: Very Good. Hardcover. From the collection of the late Professor Sir A.B. Atkinson. Minor scuffing and a few light scores on dust jacket. Jacket and hardcover spine ends are lightly bumped. Slight wear on jacket leading corners. One or two small marks on front board and page block. Pages are clean. Contents are clear throughout. AF. Used. Seller Inventory # 469235

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Jorgenson, Dale Weldeau:
Published by Mit Press 08.08.1997., 1997
ISBN 10: 0262100622 ISBN 13: 9780262100625
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Condition: Neu. Auflage: New. 574 Seiten Neu! - Versandfertig am nächsten Tag; Rechnung mit MwSt. liegt bei! Sprache: Englisch Gewicht in Gramm: 1134 23,6 x 21,3 x 2,3 cm, Gebundene Ausgabe. Seller Inventory # 31046

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Dale Weldeau Jorgenson
Published by MIT PR, 1997
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Published by The MIT Press, 1997
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