fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry …

-signaling can potentially crowd out the effect of consumption utility on choices. Two large-scale, randomized controlled field …

This paper develops and tests a new set of stochastic implications of optimal consumption behavior in the presence of … intertemporal relationship between durable and nondurable good~ consumption. The presence of binding, liquidity constraints are … nondurable consumption. Empirical tests of the implications using aggregate data support the hypothesis that liquidity …

The marginal propensity to consume out of wealth is important for evaluating the effects of taxation on consumption … consumption. It is also a component of the interest elasticity of consumption and the risk aversion of the value function which …

consumption. These are contrasted to equations developed under the competing hypotheses that smoking is not addictive or that … cigarette consumption among both groups. Finally, the Becker-Murphy model's implications concerning the rate of tine preference … and addictive consumption are tested by estimating the demand for cigarettes separately using samples based on age or …

years in the past still exerting a significant effect on current consumption. Counterfactuals suggest that brand preferences … intuitive way to both advertising levels and the social visibility of consumption …