The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses:
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...
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| Main Authors: | , , , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
New York, NY
Springer New York
1988
|
| Edition: | 1st ed. 1988 |
| Series: | Lecture Notes in Economics and Mathematical Systems
316 |
| Subjects: | |
| Online Access: | BTU01 Volltext |
| Summary: | 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 |
| Physical Description: | 1 Online-Ressource (VIII, 159 p) |
| ISBN: | 9781468494013 |
| DOI: | 10.1007/978-1-4684-9401-3 |
Staff View
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| author | Basmann, R.L Slottje, D.J Hayes, K. Johnson, J.D |
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| discipline | Mathematik Wirtschaftswissenschaften |
| discipline_str_mv | Mathematik Wirtschaftswissenschaften |
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| edition | 1st ed. 1988 |
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| spelling | Basmann, R.L. Verfasser aut The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses by R.L. Basmann, D.J. Slottje, K. Hayes, J.D. Johnson, D.J. Molina 1st ed. 1988 New York, NY Springer New York 1988 1 Online-Ressource (VIII, 159 p) txt rdacontent c rdamedia cr rdacarrier Lecture Notes in Economics and Mathematical Systems 316 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 Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Schätzung (DE-588)4193791-0 gnd rswk-swf Nutzenfunktion (DE-588)4172189-5 gnd rswk-swf Ökonometrisches Modell (DE-588)4043212-9 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf Ökonometrisches Modell (DE-588)4043212-9 s DE-604 USA (DE-588)4078704-7 g Nutzenfunktion (DE-588)4172189-5 s Schätzung (DE-588)4193791-0 s Slottje, D.J. aut Hayes, K. aut Johnson, J.D. aut Erscheint auch als Druck-Ausgabe 9780387968537 Erscheint auch als Druck-Ausgabe 9781468494020 https://doi.org/10.1007/978-1-4684-9401-3 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Basmann, R.L Slottje, D.J Hayes, K. Johnson, J.D The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Schätzung (DE-588)4193791-0 gnd Nutzenfunktion (DE-588)4172189-5 gnd Ökonometrisches Modell (DE-588)4043212-9 gnd |
| subject_GND | (DE-588)4193791-0 (DE-588)4172189-5 (DE-588)4043212-9 (DE-588)4078704-7 |
| title | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses |
| title_auth | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses |
| title_exact_search | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses |
| title_exact_search_txtP | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses |
| title_full | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses by R.L. Basmann, D.J. Slottje, K. Hayes, J.D. Johnson, D.J. Molina |
| title_fullStr | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses by R.L. Basmann, D.J. Slottje, K. Hayes, J.D. Johnson, D.J. Molina |
| title_full_unstemmed | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses by R.L. Basmann, D.J. Slottje, K. Hayes, J.D. Johnson, D.J. Molina |
| title_short | The Generalized Fechner-Thurstone Direct Utility Function and Some of its Uses |
| title_sort | the generalized fechner thurstone direct utility function and some of its uses |
| topic | Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Schätzung (DE-588)4193791-0 gnd Nutzenfunktion (DE-588)4172189-5 gnd Ökonometrisches Modell (DE-588)4043212-9 gnd |
| topic_facet | Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Schätzung Nutzenfunktion Ökonometrisches Modell USA |
| url | https://doi.org/10.1007/978-1-4684-9401-3 |
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