Essays in the Theory and Measurement of Consumer Behaviour: In Honour of Sir Richard Stone In Honour of Sir Richard Stone

The eleven papers in this volume show work in the theory and measurement of consumer behaviour.

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.

Part I. The analysis of commodity demands: Introduction; 1. Some Engel curves W. M. Gorman; 2. Suggestions towards freeing systems of demand functions from a strait-jacket L. Johansen; 3. Theoretical and empirical approaches to consumer demand under rationing A. S. Deaton; 4. The independence transformation: a review and some further explorations H. Theil and K. Laitinen; 5. The analysis of consumption and demand in the USSR N. P. Fedorenko and N. J. Rimasheskaya; Part II: The theory of index numbers: Introduction; 6. On the constructability of consistent price indices between several periods simultaneously S. N. Afriat; 7. The economic theory of index numbers: a survey W. E. Diewert; Part III. The consumption function and durable goods: Introduction; 8. Testing neoclassical models of the demand for consumer durables J. Muellbauer; 9. Liquidity and inflation effects on consumers' expenditure D. F. Hendry and T. Von Ungern Sternberg; Part IV. Other aspects: fertility and labour supply: Introduction; 10. On labour supply and commodity demands A. B. Atkinson and N. H. Stern; 11. Child spacing and numbers: an empirical analysis M. Nerlove and A. Razin.

The eleven papers in this volume show work in the theory and measurement of consumer behaviour. The eminent contributors offer papers ranging from theory to econometrics, from Engel curves to labour supply and fertility, and from consumer demand in England to consumer behaviour in the USSR.

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.