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costs of search with its marginal benefit. The consumer can maximize the utility of his consumption-leisure choice with …
Persistent link: https://www.econbiz.de/10011258818
This study invents four types of non-monotonic utility functions that suit the sufficiency economy. With these utility functions, an individual may not get higher utility when consume more goods. Therefore, an individual requires an optimal level of income rather than a maximized level of income...
Persistent link: https://www.econbiz.de/10009323934
This is a short survey on consumption theory. Consumption is important to both fluctuation and growth. In addition …, consumption introduces some important issues involving financial markets and portfolio decisions. We will describe consumption … interaction between consumption decisions and portfolio choice is investigated in the third part of the paper. …
Persistent link: https://www.econbiz.de/10009647429
This paper attempts a broad appraisal of the literature on macro consumption function in Islamic economics. It starts … consumption in economics as also to interest being shown in the subject in other social sciences. This inter-disciplinary approach … seeks to detach consumption from income and links it to wealth. It also brings in environmental and ethical concerns into …
Persistent link: https://www.econbiz.de/10005790472
costs of search with its marginal benefit. The consumer can maximize the utility of his consumption-leisure choice with …
Persistent link: https://www.econbiz.de/10011114013
Pakistan. Consumption decisions determine savings decisions. In long term growth literature, differences in long term growth … determinants of savings in Pakistan economy. The results indicate evidence of consumption smoothing and relatively stable Average …Like many other countries, aggregate consumption constitutes a major portion of Gross Domestic Product (GDP) in …
Persistent link: https://www.econbiz.de/10011258849
consumer credit, and marginal savings on insurance policy or consumer credit. Under price dispersion the indirect utility …
Persistent link: https://www.econbiz.de/10011267888
This document analyzes the changes that suffer the amounts demanded of a good, due to changes in its price. For this we use the decomposition in Income and Substitution effects posed by Slutsky and Hicks in their work concerning the analysis of the demand. In general, when the price of a good...
Persistent link: https://www.econbiz.de/10011274388
A common explanation for biases in judgment and choice has been to postulate two separate processes in the brain: a “System 1” that generates judgments automatically, but using only a subset of the information available, and a “System 2” that uses the entire information set, but is only...
Persistent link: https://www.econbiz.de/10011258576
The paper describes the microeconomic trade-off between prices, savings on purchases, and the time horizon of the … consumption-leisure choice during the search for different products. When marginal costs of the search are equal to its marginal …
Persistent link: https://www.econbiz.de/10011258683