Dynamic Consumer Theory

Name: Dynamic Consumer Theory
Brand: Nova Science Publishers Inc
SKU: 9781633217966
Price: 397.1 EUR
Availability: InStock

A Premier Treatise with Stochastic Dynamic Slutsky Equations

Автор: David Wing-Kay Yeung

Език:

Корици: С твърди корици

Издател: Nova Science Publishers Inc

Наличност: 50% вероятност

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This book is the first treatise on consumer theory in a dynamic framework. It expands the convention...

Информация за книгата

Автор

David Wing-Kay Yeung

Език

Английски език

Корици

Книга - С твърди корици

Издадена

2014

страници

121

EAN

9781633217966

ISBN

9781633217966

Enbook ID

08837070

Издател

Nova Science Publishers Inc

Теглоt

882

Размери

186 x 262 x 28

Пълно описание

This book is the first treatise on consumer theory in a dynamic framework. It expands the conventional static consumer theory into a stochastic dynamic framework accommodating various combinations of uncertainties in future income, life-span and future preferences. These extensions incorporate realistic and intrinsic characteristics of the consumer decision into the analysis of consumer theory. Novel innovations to the field of consumer theory presented in the book include wealth-dependent ordinary demand, inter-temporal indirect utility function, wealth compensated demand, wealth expenditure function and inter-temporal Roy''s identity under uncertainty. A prominent highlight of the book is the derivation of a series of stochastic dynamic Slutsky equations. New optimal consumption paradigms presented include: (i) utility maximisation in a dynamic framework, duality and wealth compensated demand, and dynamic Slutsky equations, (ii) dynamic consumption under random horizon and income, (iii) consumption amid uncertainties in income, life span and preferences, and (iv) stochastic future prices and consumption decision. The mathematical foundation of the book provides a fertile ground for the analysis of dynamic consumption under stochastic dynamic environments. The book paves the way for a new phase in optimal consumption analysis and will be of interest to economics and mathematics students, economists, mathematicians and researchers in consumer behaviour.

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Dynamic Consumer Theory

A Premier Treatise with Stochastic Dynamic Slutsky Equations

Информация за книгата

Пълно описание

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