John R. Hicks: A Revision of Demand Theory

The demand theory which is studied in this book is no more, in substance, than the traditional static theory of consumers' behaviour. It has been written because it has turned out that even in that field there are many new things to be said. Though the author does not accept the view on the nature of the problem which has been put forward by the 'Revealed Preference' school, he finds it possible to reformulate the older theory by the use of their methods, so as to make its most general conclusions easier to reach, and easier to appreciate when they are reached. Thus the use of calculus and of determinants can Imagebe almost wholly avoided; the argument runs throughout in terms of the most economic of mathematical operations, that which is performed every day by the shopkeeper, when he multiplies a set of quantities by a set of prices to add up a bill.

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