This paper attempts to summarize and integrate some recent economic theories of consumer behavior based on demand for underlying characteristics of goods. The implications of these theories for ...

This essay advocates a reformulation of the theory of consumer behavior, based on the household production function approach suggested in Becker's "A Theory of the Allocation of Time" [1]. The case ...

Explore consumer theory, its impact on spending decisions, and how it shapes GDP, corporate strategies, and economic policies through real-world examples and objectives.