Download or read book The Value of Household Life Cycle Variables in Consumer Expenditure Research written by Daniel Putler and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine why studies reach contradictory conclusions concerning the value of the household life cycle model as a predictive tool in consumer expenditure research. Using a database of roughly 14,000 Canadian households, we find that household life cycle variables do not generally enhance prediction over a more parsimonious model containing a basic set of socioeconomic and demographic variables, even when comparing less aggregated to more aggregated expenditure categories. However, they do enhance prediction for categories that are defined such that the typical users of the category fall into a fairly narrow age range. The theoretical and applied significance of our findings are discussed and directions for future research are offered.

Download or read book Family Life Cycle written by Frederick W. Derrick and published by . This book was released on 1980 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Household Life Cycles and Lifestyles in the United States written by Rex Yuxing Du and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Household life cycle has been widely used as a determinant of consumer behavior and a basis for market segmentation. However, there is considerable disagreement about how life stages should be defined and how households progress through these stages. Existing studies use a priori definitions, which are tested on a cross-sectional survey of households collected at a single point in time and thus cannot reveal the real dynamics of the household life cycle. The Panel Study of Income Dynamics provides longitudinal data on household composition in the United States for a period of 34 years; the authors use this to identify empirically the most typical stages and paths that U.S. households have followed since 1968. They develop a hidden Markov model in which the stages of the household life cycle are taken as latent, unobservable states that are uncovered from the manifest household demographic profiles over the 34 years, assuming that households evolve through these latent stages following a first-order Markov process. The authors apply their results to classify members of another panel (Consumer Expenditure Survey) into life stages, which enables them to study the impact of the household life cycle on households' budgetary allocations, providing a comprehensive analysis of lifestyles (through expenditure patterns) over the household life cycle.

Download or read book Consumption Over the Life Cycle written by Pierre-Olivier Gourinchas and published by . This book was released on 1999 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs a synthetic cohort technique and Consumer Expenditure Survey data to construct average age-profiles of consumption and income over the working lives of typical households across different education and occupation groups. Using these profiles, we estimate a structural model of optimal life-cycle consumption expenditures in the presence of realistic labor income uncertainty. The model fits the profiles quite well. In addition to providing tight estimates of the discount rate and risk aversion, we find that consumer behavior changes strikingly over the life-cycle. Young consumers behave as buffer-stock agents. Around age 40, the typical household starts accumulating liquid assets for retirement, and its behavior mimics more closely that of a certainty equivalent consumer. This change in behavior is mostly driven by the life-cycle profile of expected income. Our methodology provides a natural decomposition of saving into its precautionary and retirement components.

Download or read book Consumption Over the Life Cycle written by Jesús Fernández-Villaverde and published by . This book was released on 2002 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a seminonparametric model and Consumer Expenditure Survey data to estimate life cycle profiles of consumption, controlling for demographics, cohort and time e.ects. In addition to documenting profiles for total and nondurable consumption, we devote special attention to the age expenditure pattern for consumer durables. We find hump-shaped paths over the life cycle for total, for nondurable and for durable expenditures. Changes in household size account for roughly half of these humps. The other half remains unaccounted for by the standard complete markets life cycle model. Our results imply that households do not smooth consumption over their lifetimes. This is especially true for services from consumer durables. Bootstrap simulations suggest that our empirical estimates are tight and sensitivity analysis indicates that the computed profiles are robust to a large number of different specifications

Download or read book U S Household Consumption Income and Demographic Changes written by Philip Musgrove and published by Routledge. This book was released on 2015-06-18 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impacts of the two variables of population and income growth on resources and the environment are transmitted through their effects on the demands for goods and services. To enrich our understanding of the impacts of population and income on consumer demand, Philip Musgrove, with the assistance of Adele Shapanka, undertook the research in this volume, which was first published in 1982. This book will be of interest to students of economics and environmental studies.

Download or read book Miscellaneous Publication written by and published by . This book was released on 1980-02 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Estimating Life cycle Paramaters from Consumption Behavior at Retirement written by John Laitner and published by . This book was released on 2005 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Life cycle Effects on Household Expenditures a Latent variable Approach written by Eva Ventura and published by . This book was released on 1998 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Bibliography on the Theory and Research on Household Expenditures written by Hans P. Peterson and published by . This book was released on 1975 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Consumer Behavior over the Life Course written by George P. Moschis and published by Springer. This book was released on 2019-01-31 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines consumer behavior using the “life course” paradigm, a multidisciplinary framework for studying people's lives, structural contexts, and social change. It contributes to marketing research by providing new insights into the study of consumer behavior and illustrating how to apply the life course paradigm’s concepts and theoretical perspectives to study consumer topics in an innovative way. Although a growing number of marketing researchers, either implicitly or explicitly, subscribe to life course perspectives for studying a variety of consumer behaviors, their efforts have been limited due to a lack of theories and methods that would help them study consumers over the lifecycle. When studying consumers over their lifespan, researchers examine differences in the consumer behaviors of various age groups (e.g., children, baby boomers, elderly, etc.) or family life stages (e.g., bachelors, full nesters, empty nesters, etc.), inferring that consumer behavior changes over time or linking consumption behaviors to previous experiences and future expectations. Such efforts, however, have yet to benefit from an interdisciplinary research approach. This book fills this gap in consumer research by informing readers about the differences between some of the most commonly used models for studying consumers over their lifespan and the life course paradigm, and providing implications for research, public policy, and marketing practice. Presenting applications of the life course approach in such research topics as decision making, maladaptive behaviors (e.g., compulsive buying, binge eating), consumer well-being, and cognitive decline, this book is beneficial for students, scholars, professors, practitioners, and policy makers in consumer behavior, consumer research, consumer psychology, and marketing research.

Download or read book The Relationships of Age Household Life Cycle Stages and Birth Cohorts in Predicting Consumer Expenditure Allocations written by Susan K. Harmon and published by . This book was released on 1998 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Analysis of Expenditures on Household Furniture a Consumer Durable written by Frederick W. Derrick and published by . This book was released on 1980 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Consumer Economic Wellbeing written by Jing Jian Xiao and published by Springer. This book was released on 2015-06-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely text overviews theories, concepts, and contexts relating to the emerging field of behavioral economics. Research theories and data gathered across psychology, sociology, marketing, finance, and other relevant disciplines are synthesized to identify and elaborate on the defining aspects of consumer economic wellbeing. Against a background of consumer rights and responsibilities, the book discusses consumer phenomena of earning, spending, saving, and borrowing and their contributions to improving (and in some cases to worsening) economic wellness. In addition, the author presents effective ways consumers can be encouraged to navigate key economic environments such as the media, advertising, and the internet, and to change negative financial behaviors. Among the featured topics: Historical perspective on consumer economic wellbeing. Consumer financial capability and economic wellbeing. The role of government in promoting consumer economic wellbeing. Corporate social responsibility. Theories of online shopping and e-banking. Desirable and undesirable consumption behavior. Consumer Economic Wellbeing clarifies issues and provides insights for researchers in the fields of consumer psychology and economics, psychologists and mental health professionals, and policy analysts. It is also useful as a text for college courses in related subjects.

Download or read book Market Research Abstracts written by and published by . This book was released on 1983 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Life cycle Consumption Examined written by Laurie Pounder and published by . This book was released on 2007 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Psychology of Consumer Profiling in a Digital Age written by Barrie Gunter and published by Routledge. This book was released on 2016-05-05 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding how consumers choose between different products and services is a crucial part of professional marketing. Targeting brands at the consumers most likely to be interested in them is another critical aspect of business success. Marketers need to know what consumers think about brands, why they like them and what purposes they serve. This means delving into the psychology of the consumer to find ways of differentiating between consumers and matching brands to consumer niches at the level of consumers’ relationships with brands. Using psychology to segment consumers has been regarded as a valuable adjunct to standard geo-demographic definitions of market segments. The Psychology and Consumer Profiling in a Digital Age examines how this field of ‘psychographics’ has evolved, the different approaches to psychological segmentation of consumers, the different ways in which it has been applied in consumer marketing settings, and whether psychographics works. It draws upon research from around the world and incorporates its analysis of the use of psychographics with an examination of major shifts in marketing in a digital and global era.