Priceless consumption (PC) is a type of consumption that is not available in the marketplace and, therefore, is absent … from aggregate consumption measures. We propose an estimation methodology to recover PC from its effects on the composition … of observable consumption. The estimation shows that PC is economically significant: It is highly volatile and has become …

Consumption growth is predictable, a basic violation of the permanent-income hypothesis. This paper examines three … possible explanations: rule-of-thumb behavior, in which households allow consumption to track per-period income flows rather … than permanent income; habit persistence; and non-separability in preferences over consumption and leisure. The data appear …

-seeking impulses via consumption choices, purchasing goods and services because other people are doing so as well. Shared identities … of shared or unshared consumption. Though markets spontaneously produce solidarity goods, individuals sometimes have …

This study applies broad-based measures of household consumption expenditure and a utility proxy to estimate the effect … of health state on the marginal utility of consumption using the Russia Longitudinal Monitoring Survey’s panel data … across individuals of different consumption levels. The results reject the null of health-state independence of utility and …