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Demand Theory Reconsidered

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  • Oskar Morgenstern

Abstract

Introduction: scope of the paper, 165. — I. Individual demand schedules: fundamental properties, 166; alternative maximum bids, 168; reconstitution of the demand curve, 170; the reaction function, 172. — II. Collective demand schedules: additivity in closed markets, 175; more complex cases and the theory of games, 179; successive adaptation and time intervals, 182; recontracting, 185; successive adaptation in open markets, 186; further properties, non-additivity, 189. — III. Applications: elasticity of demand, 191; monopolistic discrimination and monopolistic competition, 195; the cobweb theorem, 198; the supply curve, non-additivity, 199. — Conclusions, 200.

Suggested Citation

  • Oskar Morgenstern, 1948. "Demand Theory Reconsidered," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 62(2), pages 165-201.
    • Handle: RePEc:oup:qjecon:v:62:y:1948:i:2:p:165-201.
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    Cited by:

    1. Mark Grinblatt & Matti Keloharju & Seppo Ikaheimo, 2004. "Interpersonal Effects in Consumption: Evidence from the Automobile Purchases of Neighbors," Yale School of Management Working Papers amz2474, Yale School of Management, revised 31 Dec 1969.
    2. Grinblatt, Mark & Keloharju, Matti & Ikäheimo, Seppo, 2003. "Interpersonal Effects in Consumption: Evidence from the Automobile Purchases of Neighbors," University of California at Los Angeles, Anderson Graduate School of Management qt69h2f7cv, Anderson Graduate School of Management, UCLA.
    3. Grinblatt, Mark & Keloharju, Matti & Ikäheimo, Seppo, 2003. "Interpersonal Effects in Consumption: Evidence from the Automobile Purchases of Neighbors," University of California at Los Angeles, Anderson Graduate School of Management qt69h2f7cv, Anderson Graduate School of Management, UCLA.
    4. Adil Ahmad Mughal, 2022. "Kantian Epistemology in Examination of the Axiomatic Principles of Economics: the Synthetic a Priori in the Economic Structure of Society," Working Papers hal-03787520, HAL.
    5. Bouët, Antoine & Emlinger, Charlotte & Lamani, Viola, 2017. "What Determines Exports of Luxury Products? The Case of Cognac," Journal of Wine Economics, Cambridge University Press, vol. 12(1), pages 37-58, February.
    6. Kovács, Kármen, 2011. "Az egyszerre érvényesülő társadalmi externáliák hatásai a státusjavak keresletére [The effects on the demand for status goods exerted by single-occasion social externals]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 314-332.
    7. Octavian Carare, 2012. "The Impact Of Bestseller Rank On Demand: Evidence From The App Market," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(3), pages 717-742, August.
    8. Molintas, Dominique Trual, 2013. "Impact of Globalisation on the British consumer motivations towards luxury commodities: Generation Y in focus," MPRA Paper 98878, University Library of Munich, Germany.
    9. D. Wade Hands, 2012. "The Rise and Fall of Walrasian Microeconomics: The Keynesian Effect," Chapters, in: Microfoundations Reconsidered, chapter 3, Edward Elgar Publishing.
    10. Kölln, Volker, 2011. "Produktdiffusion in TIMES-Märkten: Innovation, Kompatibilität und Timing bei Netzeffektgütern," Discussion Papers on Strategy and Innovation 11-01, Philipps-University Marburg, Department of Technology and Innovation Management (TIM).
    11. John F. Johnston, 1975. "Utility Interdependence and Redistribution: Methodological Implications for Welfare Economics and the Theory of the Public Household," Public Finance Review, , vol. 3(3), pages 195-228, July.
    12. Finn Christensen, 2014. "Comparative Statics, Stability, and Uniqueness," Working Papers 2014-02, Towson University, Department of Economics, revised Mar 2015.
    13. Zhiyi Zhuo, 2020. "New Mathematical model of Retailer-to-Individual Customer Optimal Product Supply Strategies Under False Demand Pattern: Customer Discount Mode," Journal of Mathematics Research, Canadian Center of Science and Education, vol. 12(1), pages 1-36, February.
    14. Henk Folmer & Auke Leen, 2013. "Why do successful restaurants not raise their prices?," Letters in Spatial and Resource Sciences, Springer, vol. 6(2), pages 81-90, July.
    15. Alt, Marius, 2024. "Better us later than me now —," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 108(C).
    16. Alt, Marius, 2021. "Committing to behave pro-environmentally: An assessment of time and regulatee-size effects on the demand for environmental regulation," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242419, Verein für Socialpolitik / German Economic Association.

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