W. M. Gorman
C. Blackorby and A. F. Shorrocks (eds)
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198285212
- eISBN:
- 9780191596322
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198285213.001.0001
- Subject:
- Economics and Finance, Microeconomics
W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand ...
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W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand are recognized as fundamental contributions to economic theory. Many of his unpublished papers have achieved similar status as privately circulated classics. This volume brings together, for the first time, all Gorman's important work on aggregation across commodities and agents, including separability, budgeting, representative agents, and the construction of capital and labour aggregates; much of this has never been published before. The 26 chapters are arranged in two parts: I. Separability and budgeting, and II. Aggregation across agents and firms. Each chapter (except the first) is preceded by an editorial introduction describing its origin and place within the literature, as well as the main results themselves. The book is of interest to academic economists interested in the foundations of consumer and producer theory, and in the interface between microeconomics and macroeconomics. A second volume of works, Modelling and Methodology, covers topics on duality, demand, trade, and welfare.Less
W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand are recognized as fundamental contributions to economic theory. Many of his unpublished papers have achieved similar status as privately circulated classics. This volume brings together, for the first time, all Gorman's important work on aggregation across commodities and agents, including separability, budgeting, representative agents, and the construction of capital and labour aggregates; much of this has never been published before. The 26 chapters are arranged in two parts: I. Separability and budgeting, and II. Aggregation across agents and firms. Each chapter (except the first) is preceded by an editorial introduction describing its origin and place within the literature, as well as the main results themselves. The book is of interest to academic economists interested in the foundations of consumer and producer theory, and in the interface between microeconomics and macroeconomics. A second volume of works, Modelling and Methodology, covers topics on duality, demand, trade, and welfare.
Claire Holleran
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199698219
- eISBN:
- 9780191741326
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698219.003.0002
- Subject:
- Classical Studies, Archaeology: Classical
There is an intrinsic relationship between a retail trade and the wider social and economic environment in which it operates. This chapter demonstrates that fundamental relationship through a study ...
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There is an intrinsic relationship between a retail trade and the wider social and economic environment in which it operates. This chapter demonstrates that fundamental relationship through a study of the history and historiography of the distributive trades in England from the medieval period to the twentieth century. It explores the potential impact that the specific urban economy of Rome, together with the wider Roman economic environment, had on the nature of the retail trade in the city, taking into account diverse factors such as the scale, structure, and organisation of production, transport infrastructure, the role of slaves and freedmen, the labour market, the possibility of economic growth in the Roman world, and consumer demand in Rome. The implications of this analysis for the topographical organisation of trade in the city are also examined.Less
There is an intrinsic relationship between a retail trade and the wider social and economic environment in which it operates. This chapter demonstrates that fundamental relationship through a study of the history and historiography of the distributive trades in England from the medieval period to the twentieth century. It explores the potential impact that the specific urban economy of Rome, together with the wider Roman economic environment, had on the nature of the retail trade in the city, taking into account diverse factors such as the scale, structure, and organisation of production, transport infrastructure, the role of slaves and freedmen, the labour market, the possibility of economic growth in the Roman world, and consumer demand in Rome. The implications of this analysis for the topographical organisation of trade in the city are also examined.
Grahame R. Dowling
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199269617
- eISBN:
- 9780191699429
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269617.003.0008
- Subject:
- Business and Management, Marketing
This chapter examines the issue of customer acquisition. It explores how an organization makes an offer to its target consumers that will entice them to buy and keep buying. Part A of this chapter ...
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This chapter examines the issue of customer acquisition. It explores how an organization makes an offer to its target consumers that will entice them to buy and keep buying. Part A of this chapter focuses on value creation, Part B on value communication, and Part C on the delivery of customer value. By focusing and integrating their brand communications, organizations find that the cost-effectiveness of communication is improved relative to a scattergun approach. The design of a distribution channel needs to generate consumer demand and create time and place utility for target consumers. The key marketing function for the distribution channel is to deliver the value offered, and in the process to support the customer value proposition (CVP) and brand position.Less
This chapter examines the issue of customer acquisition. It explores how an organization makes an offer to its target consumers that will entice them to buy and keep buying. Part A of this chapter focuses on value creation, Part B on value communication, and Part C on the delivery of customer value. By focusing and integrating their brand communications, organizations find that the cost-effectiveness of communication is improved relative to a scattergun approach. The design of a distribution channel needs to generate consumer demand and create time and place utility for target consumers. The key marketing function for the distribution channel is to deliver the value offered, and in the process to support the customer value proposition (CVP) and brand position.
Pamela C. Ronald and Raoul W. Adamchak
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780195301755
- eISBN:
- 9780199867196
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195301755.003.0003
- Subject:
- Biology, Plant Sciences and Forestry
This chapter gives a history of organic farming and the biological technologies that organic farmers rely upon. Based on present trends, consumer demand and organic-based research are likely to ...
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This chapter gives a history of organic farming and the biological technologies that organic farmers rely upon. Based on present trends, consumer demand and organic-based research are likely to increase. This raises the question of whether GE varieties can help forge a future sustainable agriculture.Less
This chapter gives a history of organic farming and the biological technologies that organic farmers rely upon. Based on present trends, consumer demand and organic-based research are likely to increase. This raises the question of whether GE varieties can help forge a future sustainable agriculture.
Jeremy Prestholdt
- Published in print:
- 2008
- Published Online:
- March 2012
- ISBN:
- 9780520254244
- eISBN:
- 9780520941472
- Item type:
- book
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520254244.001.0001
- Subject:
- History, World Modern History
This book unsettles the idea of globalization as a recent phenomenon—and one driven solely by Western interests—by offering a new perspective on global interconnectivity in the nineteenth century. ...
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This book unsettles the idea of globalization as a recent phenomenon—and one driven solely by Western interests—by offering a new perspective on global interconnectivity in the nineteenth century. The book examines East African consumers' changing desires for material goods from around the world in an era of sweeping social and economic change. Exploring complex webs of local consumer demands that affected patterns of exchange and production as far away as India and the United States, the book challenges presumptions that Africa's global relationships have always been dictated by outsiders. Full of vignettes that outline forgotten trajectories of global trade and consumption, it demonstrates how contemporary globalization is foreshadowed in deep histories of intersecting and reciprocal relationships across vast distances.Less
This book unsettles the idea of globalization as a recent phenomenon—and one driven solely by Western interests—by offering a new perspective on global interconnectivity in the nineteenth century. The book examines East African consumers' changing desires for material goods from around the world in an era of sweeping social and economic change. Exploring complex webs of local consumer demands that affected patterns of exchange and production as far away as India and the United States, the book challenges presumptions that Africa's global relationships have always been dictated by outsiders. Full of vignettes that outline forgotten trajectories of global trade and consumption, it demonstrates how contemporary globalization is foreshadowed in deep histories of intersecting and reciprocal relationships across vast distances.
R. V. COMERFORD
- Published in print:
- 2010
- Published Online:
- March 2012
- ISBN:
- 9780199583744
- eISBN:
- 9780191702365
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199583744.003.0003
- Subject:
- History, British and Irish Modern History
This chapter examines Irish history during the period from 1833 to 1891 or the so-called era of Charles Stewart Parnell. It discusses how Parnell and his parliamentary associates used the prominence ...
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This chapter examines Irish history during the period from 1833 to 1891 or the so-called era of Charles Stewart Parnell. It discusses how Parnell and his parliamentary associates used the prominence they had won in the land war years to fashion a new kind of Irish political party. The chapter suggests that a major source of change during this time was the upheaval in agricultural and industrial prices and consumer demand on the British food market, which began in the 1870s.Less
This chapter examines Irish history during the period from 1833 to 1891 or the so-called era of Charles Stewart Parnell. It discusses how Parnell and his parliamentary associates used the prominence they had won in the land war years to fashion a new kind of Irish political party. The chapter suggests that a major source of change during this time was the upheaval in agricultural and industrial prices and consumer demand on the British food market, which began in the 1870s.
Yves Balasko
- Published in print:
- 2011
- Published Online:
- October 2017
- ISBN:
- 9780691146799
- eISBN:
- 9781400838912
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691146799.003.0003
- Subject:
- Economics and Finance, History of Economic Thought
Rational consumers are assumed to maximize their preferences subject to the constraints they perceive. With preferences that are representable by utility functions, the consumer's problem is modeled ...
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Rational consumers are assumed to maximize their preferences subject to the constraints they perceive. With preferences that are representable by utility functions, the consumer's problem is modeled as one of maximizing a standard utility function subject to a budget constraint. This maximization problem determines the consumer's demand, a demand that is a function of the consumer's wealth and market prices. These demand functions feature several remarkable properties that make up the bulk of classical consumer theory. The most important ones are Walras law, the weak axiom of revealed preferences, and the negative definiteness of the Slutsky matrices. An important part of consumer theory is devoted to establishing these properties of demand functions when the latter come from the budget constrained maximization of standard utility function. This chapter focuses on this classical part of the theory. It also characterizes consumer's demand functions simply by their properties.Less
Rational consumers are assumed to maximize their preferences subject to the constraints they perceive. With preferences that are representable by utility functions, the consumer's problem is modeled as one of maximizing a standard utility function subject to a budget constraint. This maximization problem determines the consumer's demand, a demand that is a function of the consumer's wealth and market prices. These demand functions feature several remarkable properties that make up the bulk of classical consumer theory. The most important ones are Walras law, the weak axiom of revealed preferences, and the negative definiteness of the Slutsky matrices. An important part of consumer theory is devoted to establishing these properties of demand functions when the latter come from the budget constrained maximization of standard utility function. This chapter focuses on this classical part of the theory. It also characterizes consumer's demand functions simply by their properties.
- Published in print:
- 2011
- Published Online:
- June 2013
- ISBN:
- 9780804772266
- eISBN:
- 9780804781763
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804772266.003.0003
- Subject:
- History, Asian History
This chapter reviews the formation of the famous Cantonese food culture and the emergence of preferences for certain varieties of rice, mainly Southeast Asian varieties. Cantonese consumer demands ...
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This chapter reviews the formation of the famous Cantonese food culture and the emergence of preferences for certain varieties of rice, mainly Southeast Asian varieties. Cantonese consumer demands resulted in the blossoming of a worldwide rice trade. It is also noted that Canton depended on trade with Hong Kong for its rice supply and Hong Kong also depended on the sustainable market in Canton. Hong Kong had more effect on Canton's rice supply than Shanghai had. Traditional Chinese banks also complemented the success of business enterprise in the rice trade. Human and cultural factors also had a profound effect on the flourishing of the foreign-rice trade. Moreover, it is shown that in the 12920s Silk Sprout rice surpassed all else in Canton's rice-consuming culture. Although the Cantonese provisioning networks met consumer demands, this does not mean that Canton was completely immune to chronic rice shortages.Less
This chapter reviews the formation of the famous Cantonese food culture and the emergence of preferences for certain varieties of rice, mainly Southeast Asian varieties. Cantonese consumer demands resulted in the blossoming of a worldwide rice trade. It is also noted that Canton depended on trade with Hong Kong for its rice supply and Hong Kong also depended on the sustainable market in Canton. Hong Kong had more effect on Canton's rice supply than Shanghai had. Traditional Chinese banks also complemented the success of business enterprise in the rice trade. Human and cultural factors also had a profound effect on the flourishing of the foreign-rice trade. Moreover, it is shown that in the 12920s Silk Sprout rice surpassed all else in Canton's rice-consuming culture. Although the Cantonese provisioning networks met consumer demands, this does not mean that Canton was completely immune to chronic rice shortages.
Jane R. Zavisca
- Published in print:
- 2012
- Published Online:
- August 2016
- ISBN:
- 9780801450372
- eISBN:
- 9780801464300
- Item type:
- chapter
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9780801450372.003.0009
- Subject:
- History, Russian and Former Soviet Union History
This chapter examines why Russians oppose mortgage subsidies for young families and mortgage loans in general. Low demand for mortgages is striking given high unmet demand for housing. More than half ...
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This chapter examines why Russians oppose mortgage subsidies for young families and mortgage loans in general. Low demand for mortgages is striking given high unmet demand for housing. More than half of urban Russians age twenty-one to thirty-five were living with extended family in 2009. This chapter analyzes the lack of consumer demand for mortgages as a critical factor that undermined the emergence of the mortgage market in Russia. It first considers the cultural dimension of the transplant effect by focusing on the culture that proponents of housing markets, American style, tried to transplant. It then discusses Russians' deep aversion to mortgages, which is evident in the primary metaphor that Russians use to describe them: kabala, or “debt bondage.” It also explores the conceptual distinction between ownership and possession, along with the avoidance of mortgages in the context of crisis.Less
This chapter examines why Russians oppose mortgage subsidies for young families and mortgage loans in general. Low demand for mortgages is striking given high unmet demand for housing. More than half of urban Russians age twenty-one to thirty-five were living with extended family in 2009. This chapter analyzes the lack of consumer demand for mortgages as a critical factor that undermined the emergence of the mortgage market in Russia. It first considers the cultural dimension of the transplant effect by focusing on the culture that proponents of housing markets, American style, tried to transplant. It then discusses Russians' deep aversion to mortgages, which is evident in the primary metaphor that Russians use to describe them: kabala, or “debt bondage.” It also explores the conceptual distinction between ownership and possession, along with the avoidance of mortgages in the context of crisis.
Robert E. Litan and Hal J. Singer
- Published in print:
- 2014
- Published Online:
- November 2015
- ISBN:
- 9780231160155
- eISBN:
- 9780231504324
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231160155.003.0028
- Subject:
- Economics and Finance, Public and Welfare
In 2010, private-sector job creation was a paltry 100,000 per month. At that pace, it would take over three years to restore just the nearly four million private-sector jobs lost during the first six ...
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In 2010, private-sector job creation was a paltry 100,000 per month. At that pace, it would take over three years to restore just the nearly four million private-sector jobs lost during the first six months of 2009, let alone absorb new and discouraged workers coming into the labor force. Jobs require private investment but private capital is waiting on the sidelines. The trepidation among investors can be partially attributed to their uncertainty over the government’s appetite for further regulation. Experience shows that in order to preserve private-sector incentives to invest, especially in a capital-intensive industry like telecom, policy makers should intervene only to correct a market failure. This chapter argues that the Obama administration’s evolving policies in the telecom arena do not meet these criteria. It then discusses what the Federal Communications Commission should do to encourage investment by both Internet providers and content providers.Less
In 2010, private-sector job creation was a paltry 100,000 per month. At that pace, it would take over three years to restore just the nearly four million private-sector jobs lost during the first six months of 2009, let alone absorb new and discouraged workers coming into the labor force. Jobs require private investment but private capital is waiting on the sidelines. The trepidation among investors can be partially attributed to their uncertainty over the government’s appetite for further regulation. Experience shows that in order to preserve private-sector incentives to invest, especially in a capital-intensive industry like telecom, policy makers should intervene only to correct a market failure. This chapter argues that the Obama administration’s evolving policies in the telecom arena do not meet these criteria. It then discusses what the Federal Communications Commission should do to encourage investment by both Internet providers and content providers.
