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Consumption is the largest component of GDP. Since the 1950s, the life cycle and the permanent income models have constituted the main analytical tools to the study of consumption behavior, both at the micro and at the aggregate levels. Since the late 1970s the literature has focused on versions...
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deviations from the random walk property. The second invokes liquidity constraints which block consumers from the credit market …
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. Second, such objects demonstrate a propensity to change their "face-in-action" vis-a-vis consumers through the continuous … stability turns the object into a continuous knowledge project for consumers. Via this ongoing cycle of revelation and discovery … consumers become attached to the object in intimate and quasi-social ways. Therefore, the concept of the epistemic consumption …
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patterns in private homes. Further, the model links food preparers and consumers based on their relationship to household types … patterns of consumers, and the relationship between people preparing and ingesting food. This finding supports the need of …
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This paper uses the Fourier flexible form to jointly approximate utility and service flows from durable and nondurable goods. In contrast, parametric functions are usually not flexible enough to accurately approximate nonseparability and often give inconsistent results. This paper calls these...
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In this paper a new consumption function is derived based on savings motive hypothesis (SMH). The major theory behind the SMH is that households save part of their income in period 1 and transfer it to period 2. Implying that consumption in period 1 is the addition of autonomous consumption and...
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