Angus Deaton
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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 is 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.
