Consumption Theory with Reference Dependent Utility
| dc.contributor.author | Andersson, Fredrik W. | swe |
| dc.contributor.department | Department of Economics | swe |
| dc.date.accessioned | 2006-09-22 | swe |
| dc.date.accessioned | 2007-02-09T11:14:47Z | |
| dc.date.available | 2007-02-09T11:14:47Z | |
| dc.date.issued | 2006 | swe |
| dc.description.abstract | This paper presents a closed form consumption function for an individual when he derives utility from both his current and previous consumption and from the consumption of his relevant others. I show that the traditional definition of an individual's marginal propensity to consume (MPC) is too narrow. With existing knowledge we would call for a broader definition of the MPC that I coin as the individual's total MPC, which also takes into account the consumption change of the relevant others, and this affects that total MPC is smaller than the traditional MPC | swe |
| dc.format.extent | 16 pages | swe |
| dc.format.extent | 208337 bytes | |
| dc.format.mimetype | application/pdf | |
| dc.gup.epcid | 5019 | swe |
| dc.gup.origin | Göteborg University. School of Business, Economics and Law | swe |
| dc.identifier.issn | 1403-2465 | swe |
| dc.identifier.uri | http://hdl.handle.net/2077/2718 | |
| dc.language.iso | en | swe |
| dc.relation.ispartofseries | Working Papers in Economics, nr 226 | swe |
| dc.subject | Consumption decision; consumption of relevant others; habit-formation behavior; marginal propensity to consume; excess smoothness | swe |
| dc.subject.svep | Economics | swe |
| dc.title | Consumption Theory with Reference Dependent Utility | swe |
| dc.type.svep | Report | swe |
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