Simple life cycle and permanent income hypotheses imply that changes in consumption should be unforecastable. Rational … forward-looking agents ought to smooth consumption over the life cycle and exhaust the asset stock accumulated during the … review of literature focuses particularly on the life cycle issues of consumption behaviour. …

This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …

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 …

We study axiomatically recursive clustering methods for networks. Such methods can be used to identify community … list of axioms that this method satisfies, and show that any recursive clustering method satisfying the same set of axioms …