Introduction and Overview

  • Lester D. Taylor


At the time of our 1966 and 1970 books, the theoretical foundations for applied demand analysis were thought to be pretty much in place. An axiomatic basis for consumer choice had been established, problems with integrability had long been solved, as had the relationship between utility theory and revealed preference. The remaining questions were seen to be primarily practical, such as the functional structure of preferences, development of new functional forms for describing preferences and demand, estimation of systems of theoretically plausible demand functions, problems of aggregation, and a better understanding of the dynamics of consumer behavior. The literature on all of these topics is now large, and the review that we are now about to undertake does little more than identify currents and high points.


Income Elasticity Habit Formation Taylor Model Indirect Utility Function Engel Curve 
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Copyright information

© Springer Science+Business Media, LLC 2010

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of ArizonaTucsonUSA

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