Authors:
- Original editions sold 2500 copies and were among the most highly cited books in the field of demand theory
- Taylor and Houthakker are two of the most well-known scholars in the field of demand analysis and consumption behavior, and pioneered dynamic consumption models that have been workhorses of applied econometrics for over 40 years
- Most extensive coverage of price and income elasticities in relation to consumer demand to be found in any publication
- Introduces models that will help economists and industry specialists to forecast future price elasticities
- Stands at crossroads of economics and psychology, appealing to diverse audience
- Includes supplementary material: sn.pub/extras
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Table of contents (23 chapters)
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Front Matter
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Preliminaries
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Front Matter
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Analyses of Data from BLS Consumer Expenditure Surveys
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Front Matter
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Analysis of Time-Series Data from National Income and Product Accounts
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Front Matter
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About this book
A classic treatise that defined the field of applied demand analysis, Consumer Demand in the United States: Prices, Income, and Consumption Behavior is now fully updated and expanded for a new generation. Consumption expenditures by households in the United States account for about 70% of America’s GDP. The primary focus in this book is on how households adjust these expenditures in response to changes in price and income. Econometric estimates of price and income elasticities are obtained for an exhaustive array of goods and services using data from surveys conducted by the Bureau of Labor Statistics and aggregate consumption expenditures from the National Income and Product Accounts, providing a better understanding of consumer demand. Practical models for forecasting future price and income elasticities are also demonstrated. Fully revised with over a dozen new chapters and appendices, the book revisits the original Houthakker-Taylor models while examining new material as well, such as the use of quantile regression and the stationarity of consumer preference. It also explores the emerging connection between neuroscience and consumer behavior, integrating the economic literature on demand theory with psychology literature. The most comprehensive treatment of the topic to date, this volume will be an essential resource for any researcher, student or professional economist working on consumer behavior or demand theory, as well as investors and policymakers concerned with the impact of economic fluctuations.
Authors and Affiliations
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Dept. Economics, University of Arizona, Tucson, U.S.A.
Lester D. Taylor
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Dept. Economics, Harvard University, Cambridge, U.S.A.
H.S. Houthakker
Bibliographic Information
Book Title: Consumer Demand in the United States
Book Subtitle: Prices, Income, and Consumption Behavior
Authors: Lester D. Taylor, H.S. Houthakker
DOI: https://doi.org/10.1007/978-1-4419-0510-9
Publisher: Springer New York, NY
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer-Verlag New York 2010
Hardcover ISBN: 978-1-4419-0509-3
Softcover ISBN: 978-1-4899-8392-3
eBook ISBN: 978-1-4419-0510-9
Edition Number: 3
Number of Pages: XXIV, 522
Additional Information: Originally published by Harvard University Press, 2005
Topics: Macroeconomics/Monetary Economics//Financial Economics, Econometrics, Marketing