Essays On The Theory And Measurement Of Consumer Behavior

This classic text has introduced generations of students to the economic theory of consumer behaviour. Written by 2015 Nobel Laureate Angus Deaton and John Muellbauer, the book begins with a self-contained presentation of the basic theory and its use in applied econometrics. These early chapters also include elementary extensions of the theory to labour supply, durable goods, the consumption function, and rationing. The rest of the book is divided into three parts. In the first of these the authors discuss restrictions on choice and aggregation problems. The next part consists of chapters on consumer index numbers; household characteristics, demand, and household welfare comparisons; and social welfare and inequality. The last part extends the coverage of consumer behaviour to include the quality of goods and household production theory, labour supply and human capital theory, the consumption function and intertemporal choice, the demand for durable goods, and choice under uncertainty.

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22nd Jul 2015 by Revilo

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Product details

  • Date Published: May 1980
  • format: Paperback
  • isbn: 9780521296762
  • length: 466pages
  • dimensions: 227 x 152 x 22 mm
  • weight: 0.63kg
  • availability: Available


Angus Deaton
Angus Deaton is Dwight D. Eisenhower Professor of Economics and International Affairs in the Department of Economics and the Woodrow Wilson School of Public and International Affairs at Princeton University. He is the author of many books, including The Great Escape: Health, Wealth, and the Origins of Inequality (2013). In 2015, he was awarded the Nobel Memorial Prize in Economic Sciences in recognition of his outstanding contribution to the analysis of consumption, poverty and welfare.

John Muellbauer
John Muellbauer is Senior Research Fellow of Nuffield College, Professor of Economics and Senior Fellow of the Institute for New Economic Thinking at the Oxford Martin School, University of Oxford. He is a CEPR Research Fellow and a Fellow of the British Academy, the Econometric Society and the European Economic Association. In addition to his many academic affiliations, he has also been a consultant to the Bank of England, HM Treasury and the UK Department for Communities and Local Government (DCLG).



Edited by Angus Deaton, winner of the 2015 Nobel Memorial Prize in Economic Sciences, this volume features early work on the theory and measurement of consumer behaviour. Featuring contributions from leading economists such as Anthony Atkinson, Nicholas Stern, John Muellbauer and Deaton himself, the book offers papers on a wide range of topics. Topics covered range from theory to econometrics, from Engel curves to labour supply and fertility, and from consumer demand in England to consumer behaviour in the USSR. These papers were written and collected for this volume to honour Sir Richard Stone on the occasion of his retirement from his chair at the University of Cambridge.

Suggested Citation

  • Deaton,Angus, 2008. "Essays in the Theory and Measurement of Consumer Behaviour: In Honour of Sir Richard Stone," Cambridge Books, Cambridge University Press, number 9780521067553, March.
  • Handle: RePEc:cup:cbooks:9780521067553


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