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Angus Stewart Deaton (born 19 October 1945 in Edinburgh, Scotland) is a leading microeconomist.
He was educated as Foundation Scholar at Fettes College in Edinburgh. Deaton earned his B.A., M.A., and Ph.D. at Cambridge University, in 1975 with thesis titled Models of consumer demand and their application to the United Kingdom where he was a Fellow at Fitzwilliam College and a Research Officer working with Richard Stone and Terry Barker in the Department of Applied Economics. Deaton was a Professor of Econometrics at the University of Bristol before moving in 1983 to Princeton University, where his appointment was suggested by John P. Lewis, former Dean of WWS. He is currently the Dwight D. Eisenhower Professor of International Affairs and Professor of Economics and International Affairs at the Woodrow Wilson School and the Economics Department at Princeton.
Deaton's first work to become widely known was the Almost Ideal Demand System (AIDS), which he developed with John Muellbauer and published in 1980. It represents an elegant treatment of consumer demand, providing an arbitrary first order approximation to any demand system which satisfies the axioms of choice while avoiding unattractive features of other models.
In 1978 Deaton became the first recipient of the Frisch Medal, an award given by the Econometric Society every two years to an applied paper published within the past 5 years in Econometrica. Deaton is a Fellow of the Econometric Society, a Corresponding Fellow of the British Academy, and a Fellow of the American Academy of Arts and Sciences. He holds honorary degrees from the University of Rome, Tor Vergata, University College London, and the University of St. Andrews. In 2007, he was elected President of the American Economic Association. He won the 2011 BBVA Foundation Frontiers of Knowledge Award of Economics, Finance and Management for his fundamental contributions to the theory of consumption and savings, and the measurement of economic wellbeing. Deaton has also developed the benchmark methodology for measuring poverty.
Deaton formulated the Deaton Paradox based on the observation of excess smoothness of consumption in the face of unanticipated permanent income shocks. In addition to analysis of household behavior at the microeconomic level, Deaton's research areas include the measurement of global poverty, health economics and economic development.
Economics and Consumer Behavior, New York: Cambridge University Press. (450 pp.) (with J. Muellbauer).
Understanding Consumption, Oxford. Clarendon Press, 242 pp. (The 1991 Clarendon Lectures in Economics.) Spanish translation, El Consumo, Madrid, 1995. Chinese translation, 2003.
The Analysis of Household Surveys: A Microeconometric Approach to Development Policy, Baltimore, Johns Hopkins University Press for the World Bank, 1997. (479 pp.)
"The Great Indian Poverty Debate" edited by Angus Deaton and Valerie Kozel, New Delhi: Macmillan India Ltd., 2005.
The Great Escape: Health, Wealth, and the Origins of Inequality, Princeton: Princeton University Press, 2013.