Duality and modern economics /
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge :
Cambridge University Press,
1992.
|
| Subjects: |
Table of Contents:
- Pt. I. Some Background. Ch. 1. Some formal preliminaries: An informal treatment. 1.1. Quasi-concave and quasi-convex functions. 1.2. Concave and convex functions. 1.3. Quasi-concavity and concavity. 1.4. Maximum value functions. 1.5. The envelope theorem. 1.6. The second-order envelope theorem. 1.7. Concluding comments and suggestions for further study
- Pt. II. Modeling Individual Consumer and Producer Behavior. Ch. 2. Individual consumer behavior: Direct and indirect utility functions. 2.1. Preferences and utility. 2.2. The price-taking consumer $1 (Bs problem. 2.3. The Hotelling-Wold identity. 2.4. The indirect utility function. 2.5. The duality between U(q) and V(p). 2.6. Roy $1 (Bs identity. 2.7. Some convenient functional forms for economists and econometricians. 2.8. Some pioneers of indirect utility functions. 2.9. Concluding comments and suggestions for further study. Ch. 3. Individual consumer behavior: Expenditure and distance functions. 3.1. Compensated demand functions. 3.2. The expenditure function defined. 3.3. Properties of the expenditure function. 3.4. Shephard $1 (Bs lemma. 3.5. The distance function. 3.6. Properties of the distance function. 3.7. Some convenient functional forms for economists and econometricians. 3.8. Concluding comments and suggestions for further study. Ch. 4. Individual consumer behavior: Further useful relationships and formulations. 4.1. The indirect utility function and the expenditure function. 4.2. The direct utility function and the distance function. 4.3. Compensated and uncompensated demand functions. 4.4. Compensated and uncompensated inverse demand functions. 4.5. Compensated demand and inverse demand functions. 4.6. Demand theory without utility. 4.7. Two more laws of demand. 4.8. Concluding comments and suggestions for further study. Ch. 5. Producer behavior. 5.1. Direct and indirect production functions. 5.2. The cost function. 5.3. Profit maximization. 5.4. Properties of the profit function. 5.5. Output supply and input demand functions. 5.6. The revenue function. 5.7. The restricted profit function. 5.8. The distance function. 5.9. Example of a distance function. 5.10. The measurement of production efficiency. 5.11. Concluding comments and suggestions for further study. Ch. 6. Consumer and producer behavior: More useful topics. 6.1. Induced preferences. 6.2. Hedonic prices. 6.3. Separability. 6.4. Joint and nonjoint production. 6.5. Economies of scope and scale. 6.6. Frisch demand functions. 6.7. Concluding comments and suggestions for further study. Ch. 7. Consumer theory with many constraints. 7.1. Applications of the model with quantity constraints. 7.2. Consumer behavior with a single quantity constraint: Restricted behavioral functions. 7.3. Relationships between restricted and unrestricted behavior. 7.4. Short- and long-run responses. 7.5. Time and money: Behavior subject to two budget constraints. 7.6. Specific applications of the multiple-constraint model. 7.7. Concluding comments and suggestions for further study
- Pt. III. Applying the Model of Individual Behavior. Ch. 8. Aggregation analysis. 8.1. Aggregation over commodities: Hicksian composite commodities. 8.2. Aggregation over agents: Exact aggregation. 8.3. The almost ideal demand system. 8.4. Concluding comments and suggestions for further study. Ch. 9. Consumer theory and welfare evaluation. 9.1. Revealed preference arguments. 9.2. Equivalent and compensating variations. 9.3. Equivalent and compensating surpluses. 9.4. Computation of a welfare measure. 9.5. Economic index numbers. 9.6. Measurement of deadweight loss. 9.7. Concluding comments and suggestions for further study. Ch. 10. Externalities and public goods. 10.1. A simple externality model. 10.2. Reciprocal externalities. 10.3. Pure public goods. 10.4. Taxation and provision of public goods. 10.5. Concluding comments and suggestions for further study.