Title Details: | |
Theory of the Consumer Behaviour |
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Authors: |
Tsounis, Nicholas |
Reviewer: |
Agiomirgianakis, George M. |
Subject: | LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MICROECONOMICS > HOUSEHOLD BEHAVIOUR AND FAMILY ECONOMICS LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MICROECONOMICS > GENERAL EQUILIBRIUM AND DISEQUILIBRIUM LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MICROECONOMICS > INFORMATION, KNOWLEDGE, AND UNCERTAINTY |
Keywords: |
Consumer behaviour
Consumer preferences Slutsky's equation Shephard's lemma Roy's identity Cobb-Douglas utility functions CES utility functions Linear/Quadratic in expenditure Demand Systems/PIGLOG/AIDS Revealed preference utility Expected utility Veblen goods |
Description: | |
Abstract: |
Consumer behaviour is part of the microeconomic analysis that examines the behaviour of consumers as units and their interaction within the market mechanism. This textbook aims to meet the teaching needs of the course of the same title in postgraduate study programs in economics and business administration. The book begins by covering basic microeconomics that underpins the analysis of consumer behaviour and then moves on to consider the consumer's equilibrium and the effects of changing that equilibrium. From Chapter 7 onwards the analysis uses more mathematical calculus to examine the effects of a change in price in the framework of Slutsky's equation, and shows how demand functions are derived from specific types of utility (Cobb-Douglas), constant elasticity of substitution (CES) functions), PIGLOG, Gorman. Deaton and Muellbauer's AIDS model is also presented.
Next, models of consumer behaviour are presented when there is an interaction between preferences, price and quantity. Furthermore, the effect of the existence of externalities (external effects) on consumer behaviour and the effect of the imposition of indirect taxation on prices are approached.
Finally, the revealed utility theory of Paul Samuelson, the derivation of the demand function with the assumptions of this theory, the consumer's choices under conditions of uncertainty and the expected utility function of John von Neumann and Oskar Morgenstern, as well as the general equilibrium are presented in consumption and overall, in the economy.
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Linguistic Editors: |
Antonopoulos, Yannis |
Graphic Editors: |
Stavropoulos, Ilias |
Type: |
Postgraduate textbook |
Creation Date: | 16-01-2024 |
Item Details: | |
ISBN |
978-618-228-083-6 |
License: |
Attribution - NonCommercial - ShareAlike 4.0 International (CC BY-NC-SA 4.0) |
DOI | http://dx.doi.org/10.57713/kallipos-315 |
Handle | http://hdl.handle.net/11419/10422 |
Bibliographic Reference: | Tsounis, N. (2024). Theory of the Consumer Behaviour [Postgraduate textbook]. Kallipos, Open Academic Editions. https://dx.doi.org/10.57713/kallipos-315 |
Language: |
Greek |
Consists of: |
1. The economic system 2. The formation of prices in the market 3. Changes in supply and demand conditions. General equilibrium of competitive markets 4. Consumer behavior 5. Changes in consumer equilibrium 6. Individual demand functions and the market demand function 7. The substitution effect and the income effect in the case of many goods 8. The envelope theorem, Shephard's lemma and Roy's identity in consumer theory. Derivation of demand functions from utility functions 9. Deriving Demand Functions from Utility Functions (continued from Chapter 8) 10. Interaction between preferences, price and quantity 11. Externalities in consumption and the effect of taxes on prices 12. Revealed preferences theory and consumer choice under uncertainty 13. General equilibrium and economic welfare |
Number of pages |
274 |
Publication Origin: |
Kallipos, Open Academic Editions |
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