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portada The Direct Measurement of Cardinal Utility: A New Theory of Value & Demand
Type
Physical Book
Author
Publisher
Language
English
Pages
296
Format
Paperback
Dimensions
27.9 x 21.6 x 2.0 cm
Weight
0.96 kg.
ISBN13
9781984590169
Categories

The Direct Measurement of Cardinal Utility: A New Theory of Value & Demand

M. G. Benthall (Author) · Xlibris UK · Paperback

The Direct Measurement of Cardinal Utility: A New Theory of Value & Demand - Benthall, M. G.

New Book Imported to Austria
Delivery: 12 Aug - 14 Aug Shipping: 5 to 6 business days.
42,53 €
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42,53 €

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Synopsis "The Direct Measurement of Cardinal Utility: A New Theory of Value & Demand"

This book establishes a saturating consumption function by non-linear regression reducing residual error by over 85%. From this, equations for the demand functions in competitive, speculative and Giffen-good markets were derived and substitution was re-examined. Equations for indifference curves and equilibrium equations of increasing complexity in all combinations of these markets were thence deduced. Equilibrium solutions were found to be unique by fairly straightforward mathematics whenever one of the goods was a competitive good. What is thought to be a new mathematical technique referred to as 'Quasi Analytical Approximation' was developed to demonstrate uniqueness in other cases. From this matrix equations for general equilibrium for all combinations of markets including monopoly and oligopoly markets were derived and solved. The book also explores the implications of the new theory for consumer choice, money, borrowing and welfare economics.

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