Everything about Angus Deaton totally explained
Angus Stewart Deaton, born in
1945 in
Scotland, is one of the most recognized micro-economists today. His popularity began when he postulated his famous
Almost Ideal Demand System (AIDS) along with
John Muellbauer to compute income, own- and cross-price elasticities using household survey data. Currently, he's the
Dwight D. Eisenhower Professor of International Affairs and Professor of Economics and International Affairs at the
Woodrow Wilson School of Public and International Affairs and the Economics Department at
Princeton University. In 2007, he was elected President of the American Economic Association.
Other than the analysis of household behavior at microeconomic level, his other main research areas include
health economics and
economic development.
He formulated what is known as the "
Deaton paradox" based on the observations of excess smoothness of consumption in face of an unanticipated permanent income shock.
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