Shafir, Eldar; Diamond, Peter; Tversky, Amos - In: The Quarterly Journal of Economics 112 (1997) 2, pp. 341-74
The term 'money illusion' refers to a tendency to think in terms of nominal rather than real monetary values. Money illusion has significant implications for economic theory, yet it implies a lack of rationality that is alien to economists. This paper reviews survey questions regarding people's...