The Generalized Fechner-Thurstone Direct Utility Function and Some of Its Uses

ISBN-13: 9780387968537 / Angielski / Miękka / 1988 / 159 str.

R. L. Basmann; D. J. Slottje; K. Hayes

Opis

In this book the foundations and applicability of the Generalized Fechner-Thurstone Utility Function are laid out. It is also shown that whereas the existence of a fixed preference utility function is not always guaranteed for different demand functions, there will always exist at least one Generalized Fechner-Thurstone Direct Utility Function.

Spis treści

1 Introduction.- 2 The GFT Utility Function.- 3 Estimating the GFT Form.- 4 The GFT and Alternative Forms.- 5 The True Cost-of-Living Concept.- 6 Cross Country Comparisons.- 7 Testing for Habit Persistence.- 8 Concluding Remarks.- A The Five Commodity Groups.- B The Eleven Commodity Groups.