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Проблема Потребительского Рыночного Спроса В Экономической Теории И Её Разрешение: Методология, Теория, Верификация
[The problem of consumer market demand in Economics and its resolution: methodology, theory, verification]

Author

Listed:
  • Gorbunov, Vladimir

Abstract

The problem of multi-product consumer demand in modern neoclassical economic theory is that this theory contains a formal normative mathematical theory of individual demand, but does not contain a positive theory of market demand– an object of real interest for economists-practitioners and governments. The consequence of this failure is the lack of a positive theory of value / price, based on the theory of economic equilibrium, and reasonable methods for analysing market demand, in particular, the calculation of economic (analytical) demand indices reflecting consumer preferences of the population. The demand problem is analysed substantively and formally within the framework of general scientific methodology. It is shown that Deaton's "aggregation over consumers" condition, introduced in Stone's heuristic analysis of market demand, is superfluous. The paper presents basics of the author’s scientific holistic theory of market demand, based on the rejection of the unrealistic theory of the individual maximizing his (ordinal) utility function, and the non-parametric method of its verification, within the framework of which analytical indexes of prices and quantities of consumption of market demand are being built. Recent articles confirming the work of the theory on real, high-dimensional data are point-ed out.

Suggested Citation

  • Gorbunov, Vladimir, 2022. "Проблема Потребительского Рыночного Спроса В Экономической Теории И Её Разрешение: Методология, Теория, Верификация [The problem of consumer market demand in Economics and its resolution: methodolo," MPRA Paper 114256, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:114256
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Economics crisis; market demand; methodological individualism; heterodox Economics; scientific methodology; verification; economic indexes;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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