Welfare - Vol. 1: Aggregate Consumer Behavior - Hardcover

Jorgenson, Dale Weldeau

Hardcover

ISBN 10: 0262100622 ISBN 13: 9780262100625

Verlag: MIT PR, 1997

Inhaltsangabe

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.

Details zur Ausgabe

• Verlag: MIT PR
• Erscheinungsdatum: 1997
• Sprache: Englisch
• ISBN 10: 0262100622
• ISBN 13: 9780262100625
• Einband: Gebundene Ausgabe
• Anzahl der Seiten: 574
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Buchpark GmbH; gpsr@buchpark.de; ; Krügerweg 1; Trebbin; Brandenburg; 14959; Deutschland