A01=Werner Hildenbrand
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Author_Werner Hildenbrand
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Ceteris paribus
Coefficient of variation
Commodity
Condition of average
Conditional probability distribution
Conditional variance
Confidence interval
Continuous function
COP=United States
Correlation coefficient
Covariance matrix
Cross-sectional data
Decision problem
Delivery_Pre-order
Demand curve
Disposable and discretionary income
Dissaving
Eigenvalues and eigenvectors
Engel curve
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Estimation
Estimator
Household
Imputed income
Income
Income distribution
Intertemporal budget constraint
Jacobian matrix and determinant
Language_English
Law of demand
Law of large numbers
Linear map
Long run and short run
Marginal distribution
Marginal propensity to consume
Marginal propensity to save
Metonymy
Moment (mathematics)
Moment matrix
Monotonic function
Multivariate random variable
Nonparametric regression
Observational error
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Partial equilibrium
Polynomial
Positive definiteness
Positive economics
Positive semidefinite
Positive-definite matrix
Preference (economics)
Preference relation
Price level
Price system
Price_€20 to €50
Probability
Probability distribution
Probability measure
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Random variable
Revealed preference
Sampling (statistics)
softlaunch
Special case
Static analysis
Statistical hypothesis testing
Statistical population
Substitution effect
Test statistic
Theory of value (economics)
Time preference
Uniform distribution (discrete)
Utility
Utility maximization problem
Weierstrass theorem
Product details
- ISBN 9780691606095
- Weight: 28g
- Dimensions: 152 x 229mm
- Publication Date: 14 Jul 2014
- Publisher: Princeton University Press
- Publication City/Country: US
- Product Form: Paperback
- Language: English
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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 Enquete 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 editions preserve the original texts of these important books while presenting them in durable paperback and hardcover 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.
