This volume presents straightforward, innovative research on the estimation of demand systems and the measurement of consumer preferences. Demand studies and understanding consumer behavior remain two of the most important areas of analysis by practicing applied economists and econometricians....

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...