A Theory of Individual BehaviorA Theory of Individual Behavior dispels the notion that individuals act as rational agents and strives to capture idiosyncratic humanness through rigorous mathematics. Wichers describes a version of economic behavior that is more comprehensive and satisfying than neoclassical models yet still consistent with the usual aggregated concepts that form the basis of applied microeconomics. Written in an accessible and convincing style, A Theory of Individual Behavior discusses innovative material in a format that encourages classroom use. All chapters have questions at their conclusions, and there is a strong emphasis on testable results. The book contains a short review of mathematical models and discussion of received microeconomic theory, as well as summaries at the ends of chapters and many examples and illustrations.

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action space agent apples basic actions budget constraint budget line changes Chapter choose coefﬁcient columns commodity consumer consumer’s coordinate curve da(t db(t deﬁned deﬁnition demand rate demanded bundles dichotomy direction dollar dual space elements endowment endowment’s equation example exogenous inﬂuences feasible action feasible set Figure ﬁnal ﬁnd ﬁnite ﬁow ﬁrm ﬁrst ﬁt ﬂow rates Hicksian illustration indifference curves individual behavior inﬁnitely inner product input interpretation labor power linear combination linearly independent longresponse function marginal utility mathematical matrix maximize utility means measured milk Model money illusion motion law neoclassical theory nonnegative null null vector objective function orthogonal output parameter plane point space positive producer proﬁt quadratic quantities real numbers scalar multiplication shortresponse function Slutsky equation speciﬁc steepest constrained ascent subset Suppose testable results Theorem tion tuna utility function utility maximization utility theory utilitymaximizing variable vector space widgets zero