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Using Consumer Theory to Test Competing Business Cycle Models
Consumers luxury goods goods utilization
2015/7/20
Consumer theory suggests that expenditures on luxuries and dura-bles should be more cyclical than expenditures on necessities and nondurables. Estimating luxuriousness and durability for 57 con-sumer ...
New alternative to formulate utility functions in consumer theory
Consumer theory Utility function Projection Theorem
2010/9/10
In this paper, we propose a mathematical approach leading systematically to a key result of the consumer theory: the representation of utility function.