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Theory of Utility and Consumer Behaviour: A Comprehensive Review of Concepts, Properties and the Most Significant Theorems

  • Pablo Coto-Millán
Part of the Contributions to Economics book series (CE)

Abstract

In this section, we begin our study of consumer demand in the context of a market economy referred to as the system in which commodities (goods and services) are available to the consumer for purchase at known prices. Firstly, we study the primal problem of consumer utility maximisation. Secondly, we analyse the dual approach and, fmally, we study indirect utility function, expenditure function, the theoretical restrictions of demand systems, Roy’s Identity, Hotelling’s Theorem, relationships between functions, the Slutsky equation and complementary and substitute goods, and the elasticities of substitution of goods Finally, we offer basic references and further references and readings.

Keywords

Utility Function Demand Function Consumer Behaviour Marginal Utility Demand System 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2003

Authors and Affiliations

  • Pablo Coto-Millán
    • 1
  1. 1.Department of EconomicsUniversity of CantabriaSantanderSpain

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