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"Consumption (Economics) Mathematical models."
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Cross-cultural and cross-national consumer research
The objective of this e-book is to extend the debate on the role of culture in consumer theory and examine psychological and other influences on consumer behavior in cross-cultural and cross-national contexts. The articles chosen for this edition include studies that examine sub-cultures within a single country, as well as several that move beyond the dominant US/Western European consumer sampling frame. The topics investigated range from psychological investigations of consumer perceptions and motivations, to behavioral assessments of communication and purchase. Overall, the resulting nine articles provide new insights into the latest cross-national and cross-cultural consumer research, which enhances theoretical and practical understanding across a varied set of contexts involving data from fifteen different countries.
eBook
International consumption comparisons
This book presents an analysis of consumption patterns in the OECD (rich) and LDC (poor) countries using recent data (1950-1998) and econometric methodology for a number of broadly aggregated consumer goods. The income elasticity estimates for the 46 countries and 9 commodity groups are tabulated. The reliability of these elasticity estimates, and also the demand theory hypotheses, are investigated using simulation techniques.
eBook
Modeling aggregate behavior and fluctuations in economics : stochastic views of interacting agents
How do a large but finite number of agents interact, and, consequently, what macroeconomic statistical regularities or patterns may evolve? The book examines situations (e.g. fluctuations about equilibria, multiple equilibria and asymmetrical cycles of models) which are caused by model states stochastically moving from one basis of attraction to another
Book
A theory of the consumption function
What is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchers and policy makers? In this volume a distinguished American economist presents a new theory of the consumption function, tests it against extensive statistical J material and suggests some of its significant implications.
Central to the new theory is its sharp distinction between two concepts of income, measured income, or that which is recorded for a particular period, and permanent income, a longer-period concept in terms of which consumers decide how much to spend and how much to save. Milton Friedman suggests that the total amount spent on consumption is on the average the same fraction of permanent income, regardless of the size of permanent income. The magnitude of the fraction depends on variables such as interest rate, degree of uncertainty relating to occupation, ratio of wealth to income, family size, and so on.
The hypothesis is shown to be consistent with budget studies and time series data, and some of its far-reaching implications are explored in the final chapter.
eBook
A Theory Of The Consumption Function
TABLE OF CONTENTS -- DEDICATION -- PREFACE -- LIST OF TABLES -- LIST OF FIGURES -- CHAPTER I-Introduction -- CHAPTER II-The Implications of the Pure Theory of Consumer Behavior -- 1. Complete Certainty -- 2. The Effect of Uncertainty -- a. THE INDIFFERENCE CURVE DIAGRAM -- b. MOTIVES FOR HOLDING WEALTH -- 3. The Relation between the Individual and the Aggregate Consumption Function -- CHAPTER III-The Permanent Income Hypothesis -- 1. The Interpretation of Data on the Income and Consumption of Consumer Units -- 2. A Formal Statement of the Permanent Income Hypothesis -- 3. The Relation between Measured Consumption and Measured Income -- CHAPTER IV-Consistency of the Permanent Income Hypothesis with Existing Evidence on the Relation between Consumption and Income: Budget Studies -- 1. Temporal Changes in Inequality of Income -- 2. Consumption-income Regressions for Different Dates and Groups -- a. TEMPORAL DIFFERENCES -- b. DIFFERENCES AMONG COUNTRIES -- c. CONSUMPTION OF FARM AND NONFARM FAMILIES -- d. OCCUPATIONAL CHARACTERISTICS OF FAMILIES -- e. NEGRO AND WHITE FAMILIES -- f. A DIGRESSION ON THE USE OF PARTIAL CORRELATION IN CONSUMPTION RESEARCH -- 3. Savings and Age -- 4. The Effect of Change in Income -- a. THE FSA DATA -- b. THE SURVEY OF CONSUMER FINANCES DATA -- c. THE SIGNIFICANCE OF THE COMPARISONS -- Appendix to Section 4-The Effect of Change in Income on the Regression of Consumption on Income -- CHAPTER V-Consistency of the Permanent Income Hypothesis with Existing Evidence on the Relation between Consumption and Income: Time Series Data -- 1. Recent Long-period Estimates of Aggregate Savings for the United States -- a. THEIR GENERAL PATTERN -- b. THE CONSTANCY OF k* -- 2. Regressions of Consumption on Current Income -- a. EFFECT OF PERIOD COVERED -- b. EFFECT OF FORM OF DATA
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Modeling Aggregate Behavior and Fluctuations in Economics
This book has two components: stochastic dynamics and stochastic random combinatorial analysis. The first discusses evolving patterns of interactions of a large but finite number of agents of several types. Changes of agent types or their choices or decisions over time are formulated as jump Markov processes with suitably specified transition rates: optimisations by agents make these rates generally endogenous. Probabilistic equilibrium selection rules are also discussed, together with the distributions of relative sizes of the bases of attraction. As the number of agents approaches infinity, we recover deterministic macroeconomic relations of more conventional economic models. The second component analyses how agents form clusters of various sizes. This has applications for discussing sizes or shares of markets by various agents which involve some combinatorial analysis patterned after the population genetics literature. These are shown to be relevant to distributions of returns to assets, volatility of returns, and power laws.
eBook
Today versus Tomorrow: The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income
This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of permanent versus current income. A test of whether the return on oil wealth and oil balance coefficients sum to unity is accepted for all specifications that adjust the return on wealth for future population changes. For oil-exporting countries outside Africa, around half of the fluctuations in the private sector non-oil balance are driven by considerations of changes in permanent income (the return on oil wealth) rather than current income. By contrast, for the public sector and African countries permanent income has little or no effect.
eBook
Today versus Tomorrow
This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of permanent versus current income. A test of whether the return on oil wealth and oil balance coefficients sum to unity is accepted for all specifications that adjust the return on wealth for future population changes. For oil-exporting countries outside Africa, around half of the fluctuations in the private sector non-oil balance are driven by considerations of changes in permanent income
Book
A theory of the consumption function
No detailed description available for \"Theory of the Consumption Function\".
eBook