The Generalized Fechner-Thurstone Direct Utility Function...
Basmann, R. L. / Slottje, D. J. / Molina, D. J. / Johnson, J. D. / Hayes, K.
In this book the foundations and applicability of the Generalized Fechner-Thurstone Utility Function are laid out. It is shown how by removing the constraint of fixed preferences in the neoclassical consumer theory, utility theory can be used to develop non-parametric indices along with elasticities of the marginal rates of substitutions. It is also shown that whereas the existence of a fixed preference utility function is not always guarantee...