Abstract This study presents results of the validation of an ultra-short survey measure of patience included in the German Socio-Economic Panel (SOEP). Survey responses predict intertemporal choice behavior in incentive-compatible decisions in a representative sample of the German adult population.

PurposeThe purpose of this paper is to explore how and when the concept of “consumer” has evolved by focusing on how a human being has developed consumption as their nature. This paper tries to find out answers of few questions such as why did people start acquisition and consumption of...

How people perceive and forecast inflation has the potential to impact on a range of economic outcomes. We reveal large, systematic overestimation of inflation by Irish consumers, which varies by social group. In contrast to previous work in this area, our models suggest the upward bias and the...