), translate into larger effects of consumption. This result is more pronounced for contractionary shocks, in line with …

This paper investigates the impact of peer observation on the consumption decisions of rural households in Thailand … deviation in their decisions. Thus, we find evidence for conformity. Further, we find that individual's consumption choice is …

We follow Fuhrer (2000) in estimating via Maximum Likelihood a log-linear consumption function on UK data. In doing so … habits look more internal in that they appear indexed to past average consumption of only a subset of (peer) consumers in the … economy, rather than total past per capita consumption. We also find that for about one seventh of UK consumers, current …