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The Pure Theory of Consumers Behavior

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  • N. Georgescu-Roegen

Abstract

I. Introduction, 545.— II. The main postulates of the theory of choice, 548.— Analytical treatment of classical scheme, 551. — Discussion of stability conditions, 553. — III. Introduction of a saturation region, 557.— Analytical treatment of the case involving two commodities, 558.— IV. The theory of choice applied to fixed incomes, 562. — Correspondence between two and three dimensional cases, 564.—V. Indifference varieties vs. integral varieties, 565.— Consistent preferential fields, 565.— Transitivity condition, 567. — VI. Analytical treatment of an alternate scheme leading to indeterminateness of exchange equilibrium, 568.— Individual and market demand laws, 583.—VII. Conclusions, 584.— Appendix. Mathematical note on the conditions of stability in an exchange with constant prices, 588.

Suggested Citation

  • N. Georgescu-Roegen, 1936. "The Pure Theory of Consumers Behavior," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 50(4), pages 545-593.
    • Handle: RePEc:oup:qjecon:v:50:y:1936:i:4:p:545-593.
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    Cited by:

    1. Bernard Monjardet, 2005. "Modèles ordinaux de préférences," Cahiers de la Maison des Sciences Economiques b05097, Université Panthéon-Sorbonne (Paris 1).
    2. Gerard Debreu, 1957. "Stochastic Choice and Cardinal Utility," Cowles Foundation Discussion Papers 39, Cowles Foundation for Research in Economics, Yale University.
    3. Jean-Sebastien Lenfant, 2012. "Indifference Curves and the Ordinalist Revolution," History of Political Economy, Duke University Press, vol. 44(1), pages 113-155, Spring.
    4. Paola Tubaro, 2014. "A Tale of Two Destinies: Georgescu-Roegen on Gossen," History of Political Economy, Duke University Press, vol. 46(1), pages 33-54, Spring.
    5. Hugo Bois, 2016. "A new behavioral framework to analyze preference construction and decision processes within the modal choice," Working Papers 1608, Chaire Economie du climat.
    6. S. Cerreia-Vioglio & F. Maccheroni & M. Marinacci & A. Rustichini, 2017. "Multinomial logit processes and preference discovery: inside and outside the black box," Working Papers 615, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    7. Hayashi, Takashi, 2008. "A note on small income effects," Journal of Economic Theory, Elsevier, vol. 139(1), pages 360-379, March.
    8. Susanne Fuchs-Seliger, 2016. "Axiomatic Models of Rational Behavior and Interpretations," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 33(4), pages 385-401, December.
    9. Meltem Öztürk, 2008. "Ordered sets with interval representation and (m,n)-Ferrers relation," Annals of Operations Research, Springer, vol. 163(1), pages 177-196, October.
    10. François Kucab, 1975. "La problématique de l'intégrabilité dans les théories de l'utilité et de la préférence révélée," Cahiers d'Économie Politique, Programme National Persée, vol. 2(1), pages 157-185.
    11. Jean-Sébastien Lenfant, 2024. "The Lichtenstein-Slovic-Tversky-Kahneman Nexus. A Prehistory of Behavioral Economics (1969-1974)," GREDEG Working Papers 2024-31, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    12. Marek Hudík, 2013. "When x Becomes x': Sameness and the Internal Consistency of Choice," ICER Working Papers 02-2013, ICER - International Centre for Economic Research.
    13. Pawel Dziewulski, 2021. "A comprehensive revealed preference approach to approximate utility maximisation," Working Paper Series 0621, Department of Economics, University of Sussex Business School.
    14. D. Wade Hands, 2012. "The Rise and Fall of Walrasian Microeconomics: The Keynesian Effect," Chapters, in: Microfoundations Reconsidered, chapter 3, Edward Elgar Publishing.
    15. Quentin Couix, 2018. "From Methodology to Practice (and Back): Georgescu-Roegen's Philosophy of Economics and the Flow-Fund Model," Documents de travail du Centre d'Economie de la Sorbonne 18021, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    16. Obrimah, Oghenovo A., 2024. "Measuring Innovativeness: A ranking of the ordinal utility from consumption is more robust than either of ‘outcomes of commercialization’ or patent counts," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 603-616.
    17. Schlee, Edward E. & Ali Khan, M., 2023. "Money-metrics in local welfare analysis: Pareto improvements and equity considerations," Journal of Economic Theory, Elsevier, vol. 213(C).
    18. Hasse Ekstedt, "undated". "Contradictions In Economic Theory And The Economic Modelling Of The Modern Economy," Review of Socio - Economic Perspectives 201601, Reviewsep.
    19. Hanemann, W. Michael & Kanninen, Barbara, 1996. "The Statistical Analysis Of Discrete-Response Cv Data," CUDARE Working Papers 25022, University of California, Berkeley, Department of Agricultural and Resource Economics.
    20. Kozo Mayumi, 2009. "Forum 2009," Development and Change, International Institute of Social Studies, vol. 40(6), pages 1235-1254, November.
    21. Ulf Böckenholt, 2006. "Thurstonian-Based Analyses: Past, Present, and Future Utilities," Psychometrika, Springer;The Psychometric Society, vol. 71(4), pages 615-629, December.
    22. Obermeyer Andy & Wieland Bernhard & Evangelinos Christos, 2014. "Die ökonomische Bewertung kleiner Reisezeiteinsparungen / The Economic Valuation of Small Travel Time Savings," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(1), pages 44-69, February.
    23. Horan, Sean & Manzini, Paola & Mariotti, Marco, 2022. "When is coarseness not a curse? Comparative statics of the coarse random utility model," Journal of Economic Theory, Elsevier, vol. 202(C).
    24. Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci, 2020. "Multinomial logit processes and preference discovery: outside and inside the black box," Working Papers 663, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.

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