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Mainstream Consumer Theory: Delay, Acceptance and History Texts

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  • Drakopoulos, Stavros A.
  • Karayiannis, Anastassios

Abstract

Consumer theory is considered to be the hard core of the neoclassical canon. The present work traces the various historical stages which led to the acceptance of the theory, and attempts to offer some possible explanations for its eventual establishment. The paper starts with a brief historical discussion of the establishment of the canon of the marginalist consumer theory. Subsequently, it discusses the main points of attack by alternative schools of thought. Finally, as part of the assessment, the paper will utilize period and phenomenological histories of thought in appraising the fashionable or non-fashionable way that this theory found a permanent place in the general texts of the history of economics. The discussion might contribute to the understanding of the dominance of mainstream consumer theory and the way that it took its paramount place in modern economics.

Suggested Citation

  • Drakopoulos, Stavros A. & Karayiannis, Anastassios, 1999. "Mainstream Consumer Theory: Delay, Acceptance and History Texts," MPRA Paper 15434, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:15434
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    File URL: https://mpra.ub.uni-muenchen.de/15434/1/MPRA_paper_15434.pdf
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    References listed on IDEAS

    as
    1. George J. Stigler, 1950. "The Development of Utility Theory. I," Journal of Political Economy, University of Chicago Press, vol. 58(4), pages 307-307.
    2. Lord Robbins, 1970. "The Evolution of Modern Economic Theory," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00876-6, October.
    3. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, September.
    4. Lord Robbins, 1970. "The Evolution of Modern Economic Theory," Palgrave Macmillan Books, in: The Evolution of Modern Economic Theory, chapter 1, pages 11-46, Palgrave Macmillan.
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    Cited by:

    1. Bögenhold, Dieter & Fachinger, Uwe, 2000. "The Social Embeddedness of Consumption: Towards the Relationship of Income and Expenditures over Time in Germany," MPRA Paper 1128, University Library of Munich, Germany.
    2. Senderski, Marcin, 2014. "Ecumenical foundations? On the coexistence of Austrian and neoclassical views on utility," MPRA Paper 67024, University Library of Munich, Germany.

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    More about this item

    Keywords

    History of Consumer Theory; History of Mainstream Economics;

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches

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