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Market Demand - Theory and Empirical Evidence (Paperback) Loot Price: R1,073
Discovery Miles 10 730
Market Demand - Theory and Empirical Evidence (Paperback): Werner Hildenbrand

Market Demand - Theory and Empirical Evidence (Paperback)

Werner Hildenbrand

Series: Princeton Legacy Library

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Loot Price R1,073 Discovery Miles 10 730 | Repayment Terms: R101 pm x 12*

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In a major work that is the culmination of over a decade of intensive research, Werner Hildenbrand presents a new theory of market demand, the principal aim of which is to identify the conditions under which the Law of Demand holds true. Hildenbrand argues that the Law of Demand is due mainly to the "heterogeneity" of the population of households. In his view, "rationality" of individual behavior plays only a minor role. While the traditional approach to the theory of market demand is to analyze the question, To what extent are the postulated properties of individual behavior "preserved" by going from individual to market demand?, this book asks the question, Which properties of the market demand function are created by the aggregation process?.

Two hypotheses on the population of households play a key role in Hilden-brand's thinking. The first is the "increasing dispersion" and the second the "increasing spread" of households' demand. These hypotheses can easily be interpreted and are a priori plausible. For a positive theory of market demand, according to Hildenbrand, it is more important that the hypotheses are well supported by empirical evidence. His claims in this important new book are based on a nonparametric statistical data analysis of the U.K. Family Expenditure Survey and the French EnquA te Budget de Famille.

Originally published in 1994.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905."

General

Imprint: Princeton University Press
Country of origin: United States
Series: Princeton Legacy Library
Release date: June 2014
First published: July 2014
Authors: Werner Hildenbrand
Dimensions: 229 x 152 x 12mm (L x W x T)
Format: Paperback - Trade
Pages: 216
ISBN-13: 978-0-691-60609-5
Categories: Books > Business & Economics > Economics > Microeconomics > General
LSN: 0-691-60609-9
Barcode: 9780691606095

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