Consumption, great and small

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No 2015-1, Nobel Prize in Economics documents from Nobel Prize Committee

Abstract: The consumption of goods and services is a fundamental part of people's welfare. The Laureate, Angus Deaton, has deepened our understanding of different aspects of consumption. His research concerns issues of immense importance for human welfare, not least in poor countries. Deaton's research has greatly influenced both practical policymaking and the scientific community. By emphasizing the links between individual consumption decisions and outcomes for the whole economy, his work has helped transform modern microeconomics, macroeconomics and development economics.

Keywords: Consumption; Development (search for similar items in EconPapers)
JEL-codes: D10 O10 (search for similar items in EconPapers)
Pages: 5 pages
Date: 2015-10-12
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