Ian Steedman Bücher

Focusing on the overlooked aspect of time in consumer behavior, the book challenges standard economic theory by emphasizing that consumption is constrained by the finite 168 hours in a week. It argues that traditional models, which primarily consider preferences, income, and prices, fail to account for how time limitations influence consumption choices. This innovative perspective invites readers to reconsider the dynamics of consumer decision-making in relation to time management.

Written for academic researchers and graduate students, this ambitious and highly original book shows how work from two disparate traditions, the marginalist long-run theory of the firm and Sraffian theory, can be used to build a framework that sheds new light on the microeconomics of industry equilibrium.