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Title Details:
Theory of the Consumer Behaviour
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.
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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