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Duality for the household: Theory and applications

In: Handbook of Agricultural Economics

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  • LaFrance, Jeffrey T.

Abstract

This chapter presents the theory of consumer choice as applied to household behavior. An internally consistent, self-contained framework is developed for the analysis of consumer preferences, household production, quality attributes, and produced nonmarket commodities in static and dynamic environments. Consumer expectations and naive and rational habit formation are considered in detail. The emphasis is on developing an internally consistent duality for consumer choice theory in each of these contexts. The chapter develops a general, logically consistent modeling framework for the applied economic analysis of consumption choices by the household.

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This chapter was published in:

  • B. L. Gardner & G. C. Rausser (ed.), 2001. "Handbook of Agricultural Economics," Handbook of Agricultural Economics, Elsevier, edition 1, volume 1, number 2, 00.
    This item is provided by Elsevier in its series Handbook of Agricultural Economics with number 2-18.

    Handle: RePEc:eee:hagchp:2-18

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    Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description

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    Cited by:
    1. Barnett, William A. & Serletis, Apostolos, 2008. "Consumer preferences and demand systems," Journal of Econometrics, Elsevier, vol. 147(2), pages 210-224, December.
    2. Barnett, William A. & Serletis, Apostolos, 2008. "Measuring Consumer Preferences and Estimating Demand Systems," MPRA Paper 12318, University Library of Munich, Germany.
    3. LaFrance, Jeffrey T., 2005. "Energy efficiency and appliance replacement," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt49m6d4s4, Department of Agricultural & Resource Economics, UC Berkeley.
    4. Moro, Daniele, 2008. "Market And Policy Issues In Micro-Econometric Demand Modeling," 107th Seminar, January 30-February 1, 2008, Sevilla, Spain 6500, European Association of Agricultural Economists.

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