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Economic Choice Theory
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  • 39 b/w illus. 28 tables
  • Page extent: 248 pages
  • Size: 228 x 152 mm
  • Weight: 0.54 kg

Library of Congress

  • Dewey number: 339.4/7
  • Dewey version: 20
  • LC Classification: HB801 .K28 1995
  • LC Subject headings:
    • Consumption (Economics)
    • Consumer behavior
    • Human behavior--Animal models

Library of Congress Record

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 (ISBN-13: 9780521454889 | ISBN-10: 0521454883)

DOI: 10.2277/0521454883

Manufactured on demand: supplied direct from the printer

 (Stock level updated: 17:01 GMT, 01 December 2015)


This book details the results of the authors' research using laboratory animals to investigate individual choice theory in economics-consumer-demand and labour supply behaviour and choice under uncertainty. The use of laboratory animals provides the opportunity to conduct controlled experiments involving precise and demanding tests of economic theory with rewards and punishments of real consequence. Economic models are compared to psychological and biological choice models along with the results of experiments testing between these competing explanations. Results of animal experiments are used to address questions of social policy importance.

• A highly topical subject • Outlines an alternative approach • Well-known and respected authors


Preface; 1. Introduction; 2. Commodity-choice behaviour I: some initial tests of the theory; 3. Commodity-choice behaviour II: tests of competing motivational processes and the representative consumer hypothesis; 4. Labour-supply behaviour I: initial tests of the theory with some public policy implications; 5. Labour-supply behaviour II: tests of competing motivational processes and earnings distributions for animal workers; 6. Choices over uncertain outcomes; 7. Intertemporal choice; 8. Summing up; Bibliography; Index.

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