LIBRARY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY THE THEORY OF CONSUMER DEMAND: A CRITICAL APPRAISAL 04-62 Geoffrey P. E„ Clarkson THE THEORY OF CONSUMER DEMAND: A CRITICAL APPRAISAL by Geoffrey P„ E„ Clarkson September, 1962 Massachusetts Institute of Technology This essay is a draft for private circulation and comment. It should not be cited or quoted without the consent of the author. THE THEORY OF CONSUMER DEMAND: A CRITICAL APPRAISAL Being an Inquiry into the Possible Existence of a Testable Theory of Consumer Behavior. (ii)