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

by R.L. Basmann and Daniel J. Slottje

In this book the foundations and applicability of the Generalized Fechner-Thurstone Utility Function are laid out. It is shown how by removing the constraint of fixed preferences in the neoclassical consumer theory, utility theory can be used to develop non-parametric indices along with elasticities of the marginal rates of substitutions. It is also shown that whereas the existence of a fixed preference utility function is not always guaranteed for...

• Format: Paperback
• Language: English
• ISBN: 0387968539
• ISBN13: 9780387968537
• Release Date: December 1988
• Publisher: Springer
• Length: 159 Pages
• Weight: 0.46 lbs.
• Dimensions: 0.4" x 5.8" x 8.3"