In this study a utility maximizing model is developed which accommodates changing states of information. Rational consumer choices in one state of information can lead to realizing different levels of utility than anticipated. Differences between these levels of utility suggest a measure for the...

Traditional economic theory of the consumer assumes the existence of perfect information. However, in reality this assumption is rarely fulfilled. In this paper a model is presented which relaxes this assumption and explicitly introduces the possibility of imperfect information into the theory...

Participation In Minnesota's Food Stamp Program

The Current Status of Consumer Food Policy

This study estimates monthly consumer demand equations for fifteen major commodities based on data for 1947-1972. The equations are estimated within the framework of the Nerlove partial adjustment model. By extrapolating from retail sales data, it was possible to generate the consumer...