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Logic of Choice and Economic Theory$
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S. N. Afriat

Print publication date: 1987

Print ISBN-13: 9780198284611

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198284616.001.0001

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Fisher and Byushgens

Fisher and Byushgens

(p.211) III.3 Fisher and Byushgens
Logic of Choice and Economic Theory

S. N. Afriat

Oxford University Press

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

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