The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Household Production

  • Richard A. Berk
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_945

Abstract

Even a casual survey of recent developments in neoclassical economics will reveal a self-conscious intellectual imperialism. Substantive areas traditionally the private preserve of other social science disciplines have experienced significant incursions: fertility, voting behaviour, crime, education, and others. But perhaps the most visible and influential expansion of neoclassical economics has been into the formation, functioning, and dissolution of families. Under the banner of the ‘new home economics’, conventional utility maximization with fixed preferences claims to provide explanations for an enormous variety of decisions made by households and their members.

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Richard A. Berk
    • 1
  1. 1.