Eugen Slutsky

Eugen Slutsky was a Soviet economist and mathematician known for his work in consumer behavior and economic theory. He developed the Slutsky equation, which breaks down how a consumer's demand for a good changes when its price changes, distinguishing between the effect of the price change itself and how the change in purchasing power influences choices. His work helps economists understand the relationship between price, income, and demand, providing a deeper insight into consumer decision-making within markets.