Economics and Consumer Behavior

I'm satisfied with this book in the view of the quality of contents and status of book. Very good!!

It is true that this book is now a bit dated. However, first, much of the foundations of microeconomic theory has not changed since the 80s and, second, this book contains a great deal that more "modern" micro textbooks (such as Mas-Colell, Whinston, and Green MWG) do not even mention. In particular, if your interest lies mostly in APPLIED work, this book is, in my opinion, superior to MWG. The chapters on demand are superb, and not surprisingly you still see them cited in hundreds of recent papers. I stress the fact that here you will not only learn about the building blocks of consumer theory, but you will also see actual APPLICATIONS of the estimation of demand systems (including the now famous Almost Ideal Demand System "invented" by the authors themselves). This textbook is invaluable for those who want to have a rigorous primer on demand, and demand estimation. Also excellent are the treatment of non-linear budget constraints, and price indexes. The book is also VERY well written, and intuition is almost always provided. On the minus side, game theory and contract theory are not covered at all, but these are topics that are covered well in many other books (including MWG).

Even if somewhat dated, this text still gives a clear and pertinent exposition of consumer behaviour theory. It is an unavoidable introduction to further literature on the topic, such as Deaton's work.