The Generalized Fechner-Thurstone direct utility function and some of its uses / R.L. Basmann [and others]
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...
Saved in:
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Full Text (via Springer) |
|---|---|
| Other Authors: | |
| Format: | eBook |
| Language: | English |
| Published: |
New York :
Springer-Verlag,
©1988.
|
| Series: | Lecture notes in economics and mathematical systems ;
316. |
| Subjects: |
MARC
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| 245 | 0 | 4 | |a The Generalized Fechner-Thurstone direct utility function and some of its uses / |c R.L. Basmann [and others] |
| 260 | |a New York : |b Springer-Verlag, |c ©1988. | ||
| 300 | |a 1 online resource (viii, 159 pages) | ||
| 336 | |a text |b txt |2 rdacontent. | ||
| 337 | |a computer |b c |2 rdamedia. | ||
| 338 | |a online resource |b cr |2 rdacarrier. | ||
| 490 | 1 | |a Lecture notes in economics and mathematical systems ; |v 316. | |
| 504 | |a Includes bibliographical references (pages 139-153) | ||
| 505 | 0 | |a Introduction -- The GFT Utility Function -- Estimating the GFT Form -- The GFT and Alternative Forms -- The True Cost-of-Living Concept -- Cross Country Comparisons -- Testing for Habit Persistence -- Concluding Remarks -- Bibliography -- A: The Five Commodity Groups -- B: The Eleven Commodity Groups. | |
| 520 | |a 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. | ||
| 588 | 0 | |a Print version record. | |
| 650 | 0 | |a Utility theory |x Mathematical models. | |
| 650 | 0 | |a Economics, Mathematical. | |
| 650 | 7 | |a Economics, Mathematical. |2 fast |0 (OCoLC)fst00902260. | |
| 650 | 7 | |a Utility theory |x Mathematical models. |2 fast |0 (OCoLC)fst01163349. | |
| 700 | 1 | |a Basmann, R. L. | |
| 776 | 0 | 8 | |i Print version: |t Generalized Fechner-Thurstone direct utility function and some of its uses. |d New York : Springer-Verlag, ©1988 |w (DLC) 88032780 |w (OCoLC)18779287. |
| 830 | 0 | |a Lecture notes in economics and mathematical systems ; |v 316. | |
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