Dynamic Consumer Theory: a Premier Treatise with Stochastic Dynamic Slutsky Equations
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| Title: | Dynamic Consumer Theory: a Premier Treatise with Stochastic Dynamic Slutsky Equations |
|---|---|
| Description: | 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. One highlight of this book is the derivation of a series of stochastic dynamic Slutsky equations. New optimal consumption paradigms presented include: - utility maximization in a dynamic framework, duality and wealth compensated demand, and dynamic Slutsky equations, - dynamic consumption under random horizon and income, - consumption amid uncertainties in income, life span and preferences, and - 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. |
| Authors: | Yeung, David W. K. |
| Resource Type: | eBook. |
| Subjects: | Consumption (Economics)--Mathematical models, Stochastic analysis |
| Categories: | BUSINESS & ECONOMICS / Economics / Macroeconomics, POLITICAL SCIENCE / Political Economy |
| Database: | eBook Collection (EBSCOhost) |
| FullText | Links: – Type: ebook-pdf Text: Availability: 0 |
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| Header | DbId: nlebk DbLabel: eBook Collection (EBSCOhost) An: 924718 RelevancyScore: 1057 AccessLevel: 6 PubType: eBook PubTypeId: ebook PreciseRelevancyScore: 1057.36352539063 |
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| Items | – Name: Title Label: Title Group: Ti Data: Dynamic Consumer Theory: a Premier Treatise with Stochastic Dynamic Slutsky Equations – Name: Abstract Label: Description Group: Ab Data: 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. One highlight of this book is the derivation of a series of stochastic dynamic Slutsky equations. New optimal consumption paradigms presented include: - utility maximization in a dynamic framework, duality and wealth compensated demand, and dynamic Slutsky equations, - dynamic consumption under random horizon and income, - consumption amid uncertainties in income, life span and preferences, and - 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. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Yeung%2C+David+W%2E+K%2E%22">Yeung, David W. K.</searchLink> – Name: TypePub Label: Resource Type Group: TypPub Data: eBook. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Consumption+%28Economics%29--Mathematical+models%22">Consumption (Economics)--Mathematical models</searchLink><br /><searchLink fieldCode="DE" term="%22Stochastic+analysis%22">Stochastic analysis</searchLink> – Name: SubjectBISAC Label: Categories Group: Su Data: <searchLink fieldCode="ZK" term="%22BUSINESS+%26+ECONOMICS+%2F+Economics+%2F+Macroeconomics%22">BUSINESS & ECONOMICS / Economics / Macroeconomics</searchLink><br /><searchLink fieldCode="ZK" term="%22POLITICAL+SCIENCE+%2F+Political+Economy%22">POLITICAL SCIENCE / Political Economy</searchLink> |
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| RecordInfo | BibRecord: BibEntity: Classifications: – Code: 339.47 Scheme: ddc Type: prePub Languages: – Code: eng Text: English Subjects: – SubjectFull: Consumption (Economics)--Mathematical models Type: general – SubjectFull: Stochastic analysis Type: general Titles: – TitleFull: Dynamic Consumer Theory: a Premier Treatise with Stochastic Dynamic Slutsky Equations Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Yeung, David W. K. – PersonEntity: Name: NameFull: Yeung, David W. K. IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 01 Type: published Y: 2014 – D: 25 M: 12 Type: profile Y: 2014 Identifiers: – Type: isbn-print Value: 9781633217966 – Type: isbn-electronic Value: 9781633218109 Titles: – TitleFull: Dynamic Consumer Theory: a Premier Treatise with Stochastic Dynamic Slutsky Equations Type: main |
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