L.D. Taylor, H.S. Houthakker
Consumer Demand in the United States
Prices, Income, and Consumption Behavior
3rd ed. 2010, XXIV, 522 p.
Printed book
Hardcover
▶ 259,00 € | £193.00 | $299.00
▶ *277,13 € (D) | 284,90 € (A) | CHF 284.50
eBook
Available from your library or
▶ springer.com/shop
MyCopy
Printed eBook for just
▶ € | $ 24.99
▶ springer.com/mycopy
▶ Original editions sold 2500 copies and were among the most highlycited 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; they
pioneered dynamic consumption models that have been workhorses
of applied econometrics for over forty years
▶ Offers the 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 the crossroads of economics and psychology, appealing to
a diverse audience
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.
Order online at springer.com ▶ or for the Americas call (toll free) 1-800-SPRINGER ▶ or email us at:
[email protected]. ▶ For outside the Americas call +49 (0) 6221-345-4301 ▶ or email us at:
[email protected].
The first € price and the £ and $ price are net prices, subject to local VAT. Prices indicated with * include VAT for books; the €(D) includes 7% for
Germany, the €(A) includes 10% for Austria. Prices indicated with ** include VAT for electronic products; 19% for Germany, 20% for Austria. All prices
exclusive of carriage charges. Prices and other details are subject to change without notice. All errors and omissions excepted.