Fisher and Byushgens

S. N. Afriat

in Logic of Choice and Economic Theory

Published in print November 1987 | ISBN: 9780198284611
Published online November 2003 | e-ISBN: 9780191595844 | DOI:
 Fisher and Byushgens

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This is the third of five chapters about the cost of living problem and price indices, a typical area for what is understood as choice theory. Together with the next two chapters, it discusses theoretical matters arising from the finding of S. S. Byushgens (1925) that Irving Fisher's ‘Ideal Index’ is exact if demand is governed by a homogeneous quadratic utility. The four sections of the chapter are: Byushgens's theorem; the existence question; purchasing power correspondence; and many‐period generalization.

Keywords: S. S. Byushgens; Byushgens's theorem; choice; choice theory; cost of living; demand; economic theory; Fisher's Ideal Index; Irving Fisher; price index; price theory; purchasing power; purchasing power correspondence

Chapter.  5530 words. 

Subjects: Microeconomics

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