{"product_id":"9780387968537","title":"Lecture Notes in Economics and Mathematical Systems","description":"\u003ch1\u003eLecture Notes in Economics and Mathematical Systems\u003c\/h1\u003e \u003ch2\u003eBasmann, R.L.; Slottje, D.J.; Hayes, K.; Johnson, J.D.; Molina, D.J.\u003c\/h2\u003e \u003cp\u003eIn 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.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 1988-12-06\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9780387968537\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-1-4684-9401-3\u003c\/p\u003e \u003cp\u003eDimensions: 210cm x148cm\u003c\/p\u003e \u003cp\u003ePages: 159\u003c\/p\u003e ","brand":"Springer New York","offers":[{"title":"Default Title","offer_id":45378866806924,"sku":"9780387968537","price":49.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9780387968537.jpg?v=1774028685","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9780387968537","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}