Consumer Theory |
Contents
Editorial Foreword | 13 |
The Rational Consumer | 21 |
The Consumers Preferences | 31 |
Copyright | |
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Common terms and phrases
1+ro alternative amount analysis assets assume assumption Axiom b₁ beginning of period bonds brand budget constraint budget line bundle cent certainty line characteristics choice commodity competitive equilibrium constant consumer's preference consumption set corner solutions decrease defined demand curve demand theory diminishing marginal utility earnings Econ Economics elasticity of substitution equal example expected utility expected utility hypothesis Figure given hold hypothesis implies income effect increase indifference class indifference curve individual marginal rate market demand functions P₁ Pareto criterion Pareto optimum portfolio positive preference ordering prospects purchases quantities rate of interest rate of substitution ratio reader risk-aversion Samuelson section T.3 short selling slope Slutzky equation state-preference straight line strictly convex substitution effect sumer Technical Appendix u₁ uncertainty utility function utility of money utility of wealth utility-of-wealth vector welfare economics x₁ and x2