SKU: 32030508720

Lectures in the Microeconomics of Choice

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Lectures in the Microeconomics of ChoicePeople pursue their own interests, whatever those interests might be. Some people have interests that are narrow and selfish, while others have interests that are broad and altruistic. The idea that people are self interested underpins all of economic analysis and raises two fundamental questions: 1. How do people choose the actions they think will further their own interests? 2. Can the potentially conflicting interests of different people be made to

People pursue their own interests, whatever those interests might be. Some people have interests that are narrow and selfish, while others have interests that are broad and altruistic. The idea that people are self-interested underpins all of economic analysis and raises two fundamental questions: 1. How do people choose the actions they think will further their own interests? 2. Can the potentially conflicting interests of different people be made to 'mesh' in some sort of socio-economic equilibrium? This book is devoted to a detailed study of the first question. Its Companion Volume (Economy-Wide Microeconomics: Equilibrium, Optimality, Applications and Tests) makes a detailed study of the second question.

 

Following some foundational remarks, this book studies the Arrow-Debreu theory of consumer choice. That theory supposes people choose so as to maximize a complete, continuous, transitive, and reflexive binary preference relation over a non-empty and compact choice set. The book then studies numerous refinements, generalizations and extensions of each of these restrictions - up to and including recent work on Behavioral theories of choice and choice behaviour when preferences are intransitive/incomplete/discontinuous. Also considered is choice behaviour in environments that are not necessarily compact. A study is also made of intertemporal choice and choice under uncertainty. The study of Arrow-Debreu choice theory and its extensions are presented from the Primal, Dual, and Revealed Preference points of view.

 

Consumers are not the only agents in the economy, as Producers are present as well. Beginning with a study of the Arrow-Debreu idea that producers choose from a convex production set so as to maximize profit, the book considers extensions and generalizations of this framework, particularly to non-convex environments. The study is presented from the Primal and Dual points of view.

 

The final chapter in the book provides a link to its Companion Volume. The Chapter indicates how the theories of consumer and producer choice studied here help inform answers of the second question posed above.

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SKU: 32030508720

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saitta Juliana
Houston, US
★★★★★ 4
Great frother
Color: Matte Black
It makes a great milk froth and heats well. One thing however, in spite of respecting the line limit it spills out and you have to clean the whole thing. So don’t fill it up to the line limit.
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Reviewed in the United States on May 21, 2026
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Sina Nabavi
Omaha, US
★★★★★ 5
Thick foam for Cappuccinos
Color: White-Stainless, Color: White-Stainless
Comes with sevaral options including thin and thick foam, hot milk and cold foam. I used the thick foam for cappuccinos and I was impressed by the consistency. Not so much noise and easy to clean. The frother tools come off easily for cleaning the pitcher.
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Reviewed in the United States on May 17, 2026
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writer49
Battle Creek, US
★★★★★ 3
Very slow--5+ minutes to froth and warm milk
Color: White-Stainless
Pros-- Makes nice froth and warms the milk. Both froth settings produce the same kind of froth. it's relatively easy to clean-- usually just a strong rinse will do. It does fine in the dishwasher too. The noise level isn't bad. Cons--it takes between five and six minutes to froth milk. It is very slow. I can froth latte art milk on my espresso maker in less than a minute, by comparison. The forth it produces is too thick to make any kind of latte art.
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Reviewed in the United States on May 12, 2026
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Mariel soler
San Leandro, US
★★★★★ 5
Quality
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What really impressed me is how fast it works—in just a couple of minutes, I have hot, creamy milk with thick, rich foam. The texture comes out smooth and fluffy, just like a coffee shop. It’s super easy to use, and cleaning it is quick too. I’ve used it for lattes, cappuccinos, and even hot chocolate, and it works perfectly every time. Definitely worth it if you want something quick, easy, and makes great foam in large amounts
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TwoPennyKindles
Lexington, US
★★★★★ 5
Very nearly perfect!
Color: Matte Black
Admittedly, I'm writing this after making only one latte, but it was almost perfect! The milk was hot enough, but not too hot. The froth on my half & half was luxurious. It was super easy to use and select the what I want. I love the glass pitcher and being able to see my half & half as it heats and foams up. The only thing that isn't perfect, and I didn't take any off on my stars for, is that the frother is plastic. I'm striving for a plastic-free life and this Milk Frother and Steamer is very close to that, but heating plastic releases nanoparticles into the contents. I may have to buy another one, since it seems that there is no spare pitcher available to buy. Two pitchers would be very handy.
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Reviewed in the United States on May 31, 2026

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