1590:
that is positive. Electricity consumption reflects economic growth. With the gradual rise of people's material level, electric energy consumption is also gradually increasing. In Iran, for example, electricity consumption has increased along with economic growth since 1970. But as countries continue to develop this effect is decreasing as they optimize their production, by getting more energy-efficient equipment. Or by transferring parts of their production to foreign nations where the cost of electrical energy is smaller.
32:
109:
980:
1119:
actions that they know are in conflict with their long-term interests. For example, most smokers would rather not smoke, and many smokers willing to pay for a drug or a program to help them quit. Finally, bounded self-interest refers to an essential fact about the utility function of a large part of people: under certain circumstances, they care about others or act as if they care about others, even strangers.
936:
924:
1063:. A similar realist structural view can be found in consumption theory, which views the Fisherian intertemporal choice framework as the real structure of the consumption function. Unlike the passive strategy of structure embodied in inductive structural realism, economists define structure in terms of its invariance under intervention.
1623:
These refer to assets in the form of cash, bank deposits, securities, as well as physical assets such as stocks of durable goods or real estate such as houses, land, etc. These factors can affect consumption; if the mentioned assets are sufficiently liquid, they will remain in reserve and can be used
1118:
Bounded rationality was first proposed by
Herbert Simon. This means that people sometimes respond rationally to their own cognitive limits, which aimed to minimize the sum of the costs of decision making and the costs of error. In addition, bounded willpower refers to the fact that people often take
1702:
People's consumption behavior is not independent of each other. In other words, two people with the same income that live in two different positions within the income distribution will have different consumptions. In fact, one compares oneself with other people, and what has a significant impact on
1706:
Consumer behavior over time is irreversible. This means that when income declines, consumer spending is sticky to the former level. After getting used to a level of consumption, a person shows resistance to reducing it and is unwilling to reduce that level of consumption. This phenomenon is called
1643:
Households' absolute consumption costs increase as the number of family members increases. Although for some goods, as the number of households increases, the consumption of such goods would increase relatively less than the number of households. This happens due to the phenomena of the economy of
1589:
is positively correlated with economical growth. As electric energy is one of the most important inputs of the economy. Electric energy is needed to produce goods and to provide services to consumers. There is a statistically significant effect of electrical energy consumption and economic growth
1404:
consumption is not only the amount of money that is spent by households on goods and services from companies, but also the expenditures of government that are meant to provide things for citizens they would have to buy themselves otherwise. This means things like healthcare. Where consumption is
1609:
Economists consider the income level to be the most crucial factor affecting consumption. Therefore, the offered consumption functions often emphasize this variable. Keynes considers absolute income, Duesenberry considers relative income, and
Friedman considers permanent income as factors that
1374:
is a theory that assumes that people are rational consumers and they decide on what combinations of goods to buy based on their utility function (which goods provide them with more use/happiness) and their budget constraint (which combinations of goods they can afford to buy). Consumers try to
1703:
one's consumption is one's position among individuals and groups in society; Therefore, a person only feels an improvement in his situation in terms of consumption if his average consumption increases relative to the average level of society. This phenomenon is called the
Demonstration Effect.
1150:
of time affects the cost of home-produced substitutes and therefore demand for commercial goods and services. The elasticity of demand for consumption goods is also a function of who performs chores in households and how their spouses compensate them for opportunity costs of home production.
2522:
who tended to leave that money to their children. According to a study from 2017 that was conducted in the USA 20% of married people consider leaving inheritance a priority, while 34% do not consider it as a priority. And about one in ten unmarried
Americans (14 percent) plan to spend their
1379:
while staying within the limits of their budget constrain or to minimalize cost while getting the target level of utility. A special case of this is the consumption-leisure model where a consumer chooses between a combination of leisure and working time, which is represented by income.
1650:
Household consumption varies in different social groups. For example, the consumption pattern of employers is different from the consumption pattern of workers. The smaller the gap between groups in a society, the more homogeneous consumption pattern within the society.
1657:
One of the important factors in shaping the consumption pattern is consumer taste. This factor, to some extent, can affect other factors such as income and price levels. On the other hand, society's culture has a significant impact on shaping the tastes of consumers.
2265:
changes (for example as a result of winning the lottery), then this increase in income is distributed over the remaining lifespan. For example, winning $ 1000 with the expectation of living for 10 more years will result in yearly increase of consumption by $ 100.
1630:
The increase in the consumer's credit and his credit transactions can allow the consumer to use his future income at present. As a result, it can lead to more consumption expenditure compared to the case that the only purchasing power is current income.
1673:
Consumption theories began with John
Maynard Keynes in 1936 and were developed by economists such as Friedman, Dusenbery, and Modigliani. The relationship between consumption and income was a crucial concept in macroeconomic analysis for a long time.
1682:
In his 1936 General Theory, Keynes introduced the consumption function. He believed that various factors influence consumption decisions; But in the short run, the most important factor is real income. According to the
Absolute Income Hypothesis,
2523:
retirement money to improve their lives, rather than saving it to leave an inheritance to their children. In addition, three in ten married
Americans (28 percent) have downsized or plan to downsize their home after retirement.
1664:
Consumption patterns are different in different geographical regions. For example, this pattern differs from urban and rural areas, crowded and sparsely populated areas, economically active and inactive areas, etc.
2282:
in 1966. It describes how people make consumption decisions based on their past income, current income, and future income as they tend to distribute their consumption over their lifetime. It is, in its basic form:
1387:
shows that consumers do not behave rationally and they are influenced by factors other than their utility from the given good. Those factors can be the popularity of a given good or its position in a supermarket.
1593:
1616:
Changes in the prices would change the real income and purchasing power of the consumer. If the consumer's expectations about future prices change, it can change his consumption decisions in the present period.
2479:
The term "access-based consumption" refers to the increasing extent to which people seek the experience of temporarily accessing goods rather than owning them, thus there are opportunities for a "
2355:
1637:
Fluctuations in interest rates can affect household consumption decisions. An increase in interest rates increases people's savings and, as a result, reduces their consumption expenditures.
1868:
2148:
1793:
2210:
2556:
1457:
2085:
1259:
2236:
1488:
stands for autonomous consumption which is minimal consumption of household that is achieved always, by either reducing the savings of household or by borrowing money.
2168:
2263:
2115:
2039:
2012:
1575:
1546:
1486:
1353:
2469:
2446:
2423:
2400:
2377:
1959:
1936:
1913:
1890:
1592:
1508:
1327:
1304:
1281:
3536:
3118:
Friedman, Milton (1957). "The
Permanent Income Hypothesis" (PDF). A Theory of the Consumption Function. Princeton University Press. ISBN 978-0-691-04182-7.
966:
898:
1085:, as it only bases consumption on current income and ignores potential future income (or lack of). Criticism of this assumption led to the development of
1108:
and suggest that a number of behavioural principles can be taken as microeconomic foundations for a behaviourally-based aggregate consumption function.
2967:
3714:
1182:). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and
1111:
Behavioural economics also adopts and explains several human behavioural traits within the constraint of the standard economic model. These include
1048:). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and
3483:
3341:
Ivanova, Diana; Stadler, Konstantin; Steen-Olsen, Kjartan; Wood, Richard; Vita, Gibran; Tukker, Arnold; Hertwich, Edgar G. (18 December 2015).
2577:
3883:
3747:
3493:
3472:
3442:
3420:
3389:
3331:
3308:
3285:
3262:
3158:
2673:
2621:
1740:. This model describes how consumption is distributed over periods of life. In the basic model with 2 periods for example young and old age.
53:
2925:
3888:
3006:
2648:
75:
3857:
3836:
3529:
3229:
2592:
3204:
2638:
959:
2733:
3775:
3347:
559:
297:
2802:
2288:
3831:
3522:
2587:
1586:
1090:
908:
128:
118:
46:
40:
2939:
1358:
In most countries consumption is the most important part of GDP. It usually ranges from 45% from GDP to 85% of GDP.
3841:
3821:
3694:
3177:
Modigliani, Franco (1966). "The Life Cycle
Hypothesis of Saving, the Demand for Wealth and the Supply of Capital".
3022:
2897:
2773:"Is it Rational to Assume Consumer Rationality? Some Consumer Psychological Perspectives on Rational Choice Theory"
1802:
1082:
952:
902:
432:
422:
3109:
Duesenberry, J. S., Income, Saving and the Theory of
Consumer Behaviour. Cambridge: Harvard University Press, 1949
2981:
3785:
3740:
3136:
Duesenberry, J. S. Income, Saving and the Theory of Consumer Behaviour. Cambridge: Harvard University Press, 1949
1717:
312:
1059:
Economists are particularly interested in the relationship between consumption and income, as modelled with the
57:
3412:
3254:
2483:" to develop, although Bardhi and Eckhardt outline differences between "access" and "sharing". Social theorist
1175:
1135:
1041:
881:
619:
574:
427:
196:
140:
20:
634:
2534:
3805:
3574:
3277:
1036:
by individuals for immediate use constitutes consumption, while other types of expenditure — in particular,
584:
392:
382:
342:
332:
239:
162:
3509:
3795:
3790:
3780:
3656:
3651:
3564:
1209:
1155:
754:
599:
337:
277:
234:
181:
2870:
Grossbard-Shechtman, Shoshana (2003). "A Consumer Theory with Competitive Markets for Work in Marriage".
2120:
569:
3826:
3615:
2759:
2572:
2275:
1384:
1098:
888:
544:
529:
387:
327:
307:
302:
1745:
2177:
3878:
3770:
3733:
3699:
3666:
1721:
1410:
1159:
1105:
1078:
1072:
1060:
1025:
639:
461:
412:
377:
317:
282:
186:
176:
123:
3800:
3704:
3641:
3569:
3300:
2820:
Mincer, Jacob (1963). "Market Prices, Opportunity Costs, and Income Effects". In Christ, C. (ed.).
2044:
1167:
1112:
1033:
865:
674:
534:
496:
437:
362:
352:
322:
249:
157:
3646:
3625:
3610:
3545:
3364:
3186:
3083:
2852:
2706:
1187:
1143:
1053:
893:
849:
654:
491:
486:
466:
417:
357:
347:
292:
287:
259:
254:
224:
92:
3661:
1217:
2215:
3671:
3589:
3489:
3468:
3438:
3416:
3385:
3381:
3327:
3304:
3281:
3258:
3230:
https://s1.q4cdn.com/959385532/files/doc_downloads/research/2018/Marriage-and-Money-Survey.pdf
3154:
3002:
2784:
2669:
2644:
2617:
2279:
1695:
1684:
1401:
1094:
784:
759:
709:
669:
549:
506:
442:
407:
397:
229:
191:
147:
2911:
2788:
2153:
3709:
3584:
3460:
3452:
3356:
3073:
3063:
2879:
2844:
2742:
2698:
2546:
1198:
1171:
1163:
1147:
1128:
1037:
1029:
1005:
is the act of using resources to satisfy current needs and wants. It is seen in contrast to
984:
834:
779:
764:
749:
734:
714:
664:
644:
624:
579:
452:
402:
372:
367:
2241:
2093:
2017:
1990:
1553:
1513:
1464:
108:
3677:
3605:
2582:
2562:
2511:
2480:
1976:
1371:
1179:
1170:
by individuals constitutes consumption, while other types of expenditure — in particular,
1086:
1045:
1018:
928:
839:
804:
769:
704:
629:
614:
501:
476:
471:
447:
219:
214:
3052:"Does more energy consumption support economic growth in net energy-importing countries?"
1687:
on consumption goods and services is a linear function of his current disposable income.
1335:
1146:, commercial consumption has to be analyzed in the context of household production. The
3247:
2454:
2431:
2408:
2385:
2362:
1944:
1921:
1898:
1875:
1493:
1397:
1367:
1312:
1289:
1266:
979:
859:
844:
809:
794:
774:
744:
594:
564:
481:
171:
167:
2883:
2725:
3872:
3579:
3401:
3368:
2710:
2551:
2484:
1729:
988:
824:
814:
789:
729:
724:
719:
699:
689:
659:
649:
554:
457:
3087:
2448:
is the average wage the individual will be paid over his or her remaining work time
1190:(e.g., the selection, adoption, use, disposal and recycling of goods and services).
1056:(e.g., the selection, adoption, use, disposal and recycling of goods and services).
3408:
2503:
940:
854:
799:
694:
684:
679:
604:
152:
3217:
2806:
3510:
An essay examining the strengths and weaknesses of Keynes's theory of consumption
3378:
Consumption and Everyday Life (Culture, Media and Identities series) (Paperback)
2567:
829:
819:
609:
244:
3485:
The Production of Consumer Society. Cultural-Economic Principles of Distinction
3068:
3051:
2746:
1405:
equal to income minus savings. Consumption can be calculated via this formula:
3620:
3430:
2702:
2519:
739:
539:
2996:
2953:
1024:
Different schools of economists define consumption differently. According to
3323:
3127:
Keynes, J. M. (1936). The general theory of employment, interest, and money.
3100:
Keynes, J. M. (1936). The general theory of employment, interest, and money.
1183:
1139:
1049:
1014:
1006:
996:
589:
520:
100:
2772:
3464:
923:
2968:"Individual's Choice between Income and Leisure (Explained with Diagram)"
2515:
3190:
3078:
3036:
2090:
Changes in the two components have different impacts on consumption. If
1193:
Consumption can also be measured in a variety of different ways such as
3360:
2856:
1376:
992:
3320:
The World of Goods: Towards an Anthropology of Consumption (Paperback)
1698:
proposed this model in 1949. This theory is based on two assumptions:
1603:
The main factors affecting consumption studied by economists include:
3514:
2760:
https://journals-scholarsportal-info/pdf/07493797/v44i0002/185_be.xml
2507:
1548:
and it reveals how much of household income is spent on consumption.
1194:
3342:
3249:
Distinction: A Social Critique of the Judgement of Taste (paperback)
2848:
2689:
Hsiang-Ke, Chao (2007). "A structure of the consumption function".
1178:, and government spending — are placed in separate categories (See
1044:, and government spending — are placed in separate categories (see
2506:) and the acronyms SKI and SKI'ing refer to the growing number of
1980:
1733:
1725:
978:
1967:
This model can be expanded to represent each year of a lifetime.
3297:
Consumption and Identity (Studies in Anthropology & History)
3729:
3518:
2726:"Behavioral foundations for the Keynesian Consumption Function"
1355:
stands for net exports. Net exports are exports minus imports.
3725:
3023:"Consumption - Definition, Neocllasical Economics, Importance"
2835:
Becker, Gary S. (1965). "A Theory of the Allocation of Time".
25:
2471:
is the wealth he has already accumulated in his or her life.
2402:
is the number of years the individual is going to live for.
2174:. If we expect part of income to be saved or invested, then
2425:
is for how many more years will the individual be working.
1306:
stands for total government spending. (including salaries)
3343:"Environmental Impact Assessment of Household Consumption"
19:"Spend" redirects here. For The Walking Dead episode, see
3056:
Journal of Economics, Finance and Administrative Science
2898:"GDP Formula - How to Calculate GDP, Guide and Examples"
1138:. In the tradition of the Columbia School of Household
2926:"Final consumption expenditure (% of GDP) | Data"
2637:
Black, John; Hashimzade, Nigar; Myles, Gareth (2009).
1212:(Gross domestic product) is defined via this formula:
2457:
2434:
2411:
2388:
2365:
2291:
2244:
2218:
2180:
2156:
2123:
2096:
2047:
2020:
1993:
1947:
1924:
1901:
1878:
1805:
1748:
1556:
1516:
1496:
1467:
1413:
1338:
1315:
1292:
1269:
1220:
1067:
Behavioural economics, Keynesian consumption function
3850:
3814:
3763:
3687:
3634:
3598:
3552:
3001:. Princeton University Press. 2003. pp. 1–61.
2614:
The Penguin Dictionary of Economics, Eighth Edition
2557:
Classification of Individual Consumption by Purpose
2350:{\displaystyle C=1/T\times W+1/T\times (R\times Y)}
3400:
3246:
2502:(originally the title of a book on the subject by
2463:
2440:
2417:
2394:
2371:
2349:
2257:
2230:
2204:
2162:
2142:
2109:
2079:
2033:
2006:
1987:. This theory divides income into two components:
1953:
1930:
1907:
1884:
1862:
1787:
1569:
1540:
1502:
1480:
1451:
1347:
1321:
1298:
1275:
1253:
3205:Access-Based Consumption: The Case of Car Sharing
3172:
3170:
1975:The permanent income hypothesis was developed by
2912:"Consumption as percent of GDP around the world"
2117:changes then consumption changes accordingly by
1134:Consumption is defined in part by comparison to
1104:More recent theoretical approaches are based on
2995:"Behavioral Economics: Past, Present, Future".
1115:, bounded willpower, and bounded selfishness.
3741:
3530:
2612:Bannock, Graham; Baxter, R. E., eds. (2011).
2531:Die Broke: A Radical Four-Part Financial Plan
2487:put forward the idea in his 2000 publication
1964:Indexes 1,2 stand for period 1 and period 2.
1863:{\displaystyle C_{2}=Y_{2}+S_{1}\times (1+r)}
960:
8:
1028:, only the final purchase of newly produced
3318:Isherwood, Baron C.; Douglas, Mary (1996).
1577:is the disposable income of the household.
3748:
3734:
3726:
3537:
3523:
3515:
3050:Esen, Ömer; Bayrak, Metin (12 June 2017).
2824:. Stanford, CA: Stanford University Press.
1158:and consumption differently. According to
1013:income. Consumption is a major concept in
967:
953:
87:
3077:
3067:
2514:spending their money on travel, cars and
2456:
2433:
2410:
2387:
2364:
2321:
2301:
2290:
2249:
2243:
2217:
2179:
2155:
2134:
2122:
2101:
2095:
2071:
2058:
2046:
2025:
2019:
1998:
1992:
1946:
1923:
1900:
1877:
1836:
1823:
1810:
1804:
1779:
1766:
1753:
1747:
1561:
1555:
1515:
1495:
1472:
1466:
1443:
1424:
1412:
1337:
1314:
1291:
1268:
1219:
76:Learn how and when to remove this message
2668:. United Nations Environment Programme.
1915:is the income received in a given year.
1510:is marginal propensity to consume where
1127:Aggregate consumption is a component of
39:This article includes a list of general
3203:Bardhi, F. and Eckhardt, G. M. (2012),
2643:(3 ed.). Oxford University Press.
2604:
1154:Different schools of economists define
1009:, which is spending for acquisition of
99:
2724:D'Orlando, F.; Sanfilippo, E. (2010).
2666:Sustainable consumption and production
2578:Measures of national income and output
1581:Consumption as a measurement of growth
3144:
3142:
16:Using money to obtain an item for use
7:
2954:"Consumption II | Policonomics"
2777:Roger Williams University Law Review
1985:A theory of the Consumption Function
1892:is the consumption in a given year.
1123:Consumption and household production
2940:"What is 'consumer choice theory'?"
2143:{\displaystyle \alpha \times Y_{p}}
2379:is the consumption in given year.
1599:Determinant factors of consumption
1017:and is also studied in many other
45:it lacks sufficient corresponding
14:
3037:"Consumption | Policonomics"
2982:"What is 'behavioral economics'?"
1788:{\displaystyle S_{1}=Y_{1}-C_{1}}
3858:List of largest consumer markets
3837:Random walk model of consumption
3403:A Theory of Shopping (paperback)
2998:Advances in behavioral economics
2771:Jacoby, Jacob (5 January 2000).
2593:List of largest consumer markets
2205:{\displaystyle \alpha \in (0,1)}
1591:
934:
922:
107:
30:
3437:. Cambridge, UK: Polity Press.
2691:Journal of Economic Methodology
2041:is permanent income, such that
1452:{\displaystyle C=C_{0}+c*Y_{d}}
209:Concepts, theory and techniques
3435:Consumer Culture and Modernity
2734:Journal of Economic Psychology
2500:Spending the Kids' Inheritance
2344:
2332:
2199:
2187:
2172:marginal propensity to consume
1938:are saving from a given year.
1857:
1845:
1535:
1523:
1:
3776:Final consumption expenditure
3348:Journal of Industrial Ecology
3216:The Office of Jeremy Rifkin,
2884:10.1016/S1053-5357(02)00138-5
2616:. Penguin Books. p. 71.
2080:{\displaystyle Y=Y_{t}+Y_{p}}
1728:and it was later expanded by
1610:determine one's consumption.
1392:Consumption in macroeconomics
1362:Consumption in microeconomics
1162:, only the final purchase of
3884:Consumption (macroeconomics)
3832:Permanent income hypothesis
3295:Friedman, Jonathan (1994).
3149:MANKIW, N. GREGORY (2009).
2588:Permanent income hypothesis
1971:Permanent income hypothesis
1621:Consumer assets and wealth:
1091:permanent income hypothesis
3905:
3842:Relative income hypothesis
3822:Absolute income hypothesis
3457:Geographies of Consumption
3376:Mackay, Hugh, ed. (1997).
3220:, accessed 3 February 2024
3207:, accessed 3 February 2024
3069:10.1108/JEFAS-01-2017-0015
2872:Journal of Socio-Economics
2747:10.1016/j.joep.2010.09.004
2518:, in contrast to previous
1691:Relative Income Hypothesis
1678:Absolute Income Hypothesis
1254:{\displaystyle Y=C+G+I+NX}
1205:Consumption as part of GDP
1083:absolute income hypothesis
1070:
18:
3786:Intertemporal consumption
3488:. Bielefeld: transcript.
3274:Understanding Consumption
3245:Bourdieu, Pierre (1984).
2703:10.1080/13501780701394102
2640:A Dictionary of Economics
2231:{\displaystyle \alpha =1}
2014:is transitory income and
1718:intertemporal consumption
1712:Intertemporal consumption
3889:Macroeconomic aggregates
3413:Cornell University Press
3380:. Thousand Oaks, Calif:
3255:Harvard University Press
2822:Measurement in Economics
2803:"CONSUMPTION GROWTH 101"
2475:Access-based consumption
2238:. On the other hand, if
1720:was first thought of by
1329:stands for Investments.
1283:stands for consumption.
1176:intermediate consumption
1042:intermediate consumption
197:JEL classification codes
21:Spend (The Walking Dead)
3806:Conspicuous consumption
3695:Consumers' co-operative
3575:Consumer culture theory
3399:Miller, Daniel (1998).
3278:Oxford University Press
2163:{\displaystyle \alpha }
383:Industrial organization
240:Computational economics
60:more precise citations.
3796:Autonomous consumption
3791:Random walk hypothesis
3657:Consumer socialization
3652:Consumer ethnocentrism
3565:Autonomous consumption
3272:Deaton, Angus (1992).
2664:Lewis, Akenji (2015).
2533:by Stephen Pollan and
2465:
2442:
2419:
2396:
2373:
2351:
2259:
2232:
2206:
2164:
2144:
2111:
2081:
2035:
2008:
1961:is the interest rate.
1955:
1932:
1909:
1886:
1864:
1789:
1614:Consumer expectations:
1571:
1542:
1504:
1482:
1453:
1349:
1323:
1300:
1277:
1255:
999:
235:Experimental economics
3827:Life-cycle hypothesis
3781:Instant gratification
3616:Consumer neuroscience
3465:10.4135/9781446221433
2573:Life cycle hypothesis
2537:) is a similar idea.
2466:
2443:
2420:
2397:
2374:
2352:
2276:life-cycle hypothesis
2270:Life-cycle hypothesis
2260:
2258:{\displaystyle Y_{t}}
2233:
2207:
2165:
2145:
2112:
2110:{\displaystyle Y_{p}}
2082:
2036:
2034:{\displaystyle Y_{p}}
2009:
2007:{\displaystyle Y_{t}}
1956:
1933:
1910:
1887:
1865:
1790:
1572:
1570:{\displaystyle Y_{d}}
1543:
1541:{\displaystyle c\in }
1505:
1483:
1481:{\displaystyle C_{0}}
1454:
1385:behavioural economics
1350:
1324:
1301:
1278:
1256:
1160:mainstream economists
1106:behavioural economics
1099:life cycle hypothesis
1081:is also known as the
1026:mainstream economists
982:
3771:Consumption function
3700:Consumer-to-business
3667:Consumption function
3482:Mohr, Ernst (2021).
3301:Taylor & Francis
3153:. Worth Publishers.
2455:
2432:
2409:
2386:
2363:
2289:
2242:
2216:
2178:
2154:
2121:
2094:
2045:
2018:
1991:
1945:
1922:
1899:
1876:
1803:
1746:
1669:Consumption theories
1554:
1514:
1494:
1465:
1411:
1336:
1313:
1290:
1267:
1218:
1142:, also known as the
1079:consumption function
1073:Consumption function
1061:consumption function
462:Social choice theory
3801:Induced consumption
3705:Factory-to-consumer
3642:Consumer confidence
3635:Consumer attributes
3570:Induced consumption
1707:the ratchet effect.
1113:bounded rationality
929:Business portal
250:Operations research
230:National accounting
3647:Consumer confusion
3626:Marketing research
3611:Consumer economics
3546:Consumer behaviour
3361:10.1111/jiec.12371
3299:. Washington, DC:
2461:
2438:
2415:
2392:
2369:
2347:
2255:
2228:
2202:
2160:
2140:
2107:
2077:
2031:
2004:
1951:
1928:
1905:
1882:
1860:
1785:
1738:Theory of interest
1567:
1538:
1500:
1478:
1449:
1348:{\displaystyle NX}
1345:
1319:
1296:
1273:
1251:
1188:goods and services
1144:New Home Economics
1054:goods and services
1000:
260:Industrial complex
255:Middle income trap
3866:
3865:
3723:
3722:
3672:Cultural consumer
3590:Consumer spending
3495:978-3-8376-5703-6
3474:978-1-4462-2143-3
3453:Mansvelt, Juliana
3444:978-0-7456-0304-9
3422:978-0-8014-8551-0
3391:978-0-7619-5438-5
3382:SAGE Publications
3333:978-0-415-13047-9
3310:978-3-7186-5592-2
3287:978-0-19-828824-4
3264:978-0-674-21277-0
3218:The Age of Access
3160:978-1-4292-1887-0
2675:978-92-807-3364-8
2623:978-0-141-04523-8
2489:The Age of Access
2464:{\displaystyle W}
2441:{\displaystyle Y}
2418:{\displaystyle R}
2395:{\displaystyle T}
2372:{\displaystyle C}
2280:Franco Modigliani
2278:was published by
1954:{\displaystyle r}
1931:{\displaystyle S}
1908:{\displaystyle Y}
1885:{\displaystyle C}
1696:James Duesenberry
1685:consumer spending
1628:Consumer credits:
1503:{\displaystyle c}
1402:national accounts
1400:in the theory of
1322:{\displaystyle I}
1299:{\displaystyle G}
1276:{\displaystyle C}
1095:Franco Modigliani
977:
976:
86:
85:
78:
3896:
3750:
3743:
3736:
3727:
3710:Consumer service
3621:Consumer product
3585:Consumer economy
3539:
3532:
3525:
3516:
3499:
3478:
3448:
3426:
3406:
3395:
3372:
3337:
3314:
3291:
3268:
3252:
3232:
3227:
3221:
3214:
3208:
3201:
3195:
3194:
3174:
3165:
3164:
3146:
3137:
3134:
3128:
3125:
3119:
3116:
3110:
3107:
3101:
3098:
3092:
3091:
3081:
3071:
3047:
3041:
3040:
3033:
3027:
3026:
3019:
3013:
3012:
2992:
2986:
2985:
2978:
2972:
2971:
2964:
2958:
2957:
2950:
2944:
2943:
2936:
2930:
2929:
2922:
2916:
2915:
2908:
2902:
2901:
2894:
2888:
2887:
2867:
2861:
2860:
2843:(299): 493–517.
2837:Economic Journal
2832:
2826:
2825:
2817:
2811:
2810:
2805:. Archived from
2799:
2793:
2792:
2768:
2762:
2757:
2751:
2750:
2741:(6): 1035–1046.
2730:
2721:
2715:
2714:
2686:
2680:
2679:
2661:
2655:
2654:
2634:
2628:
2627:
2609:
2547:Aggregate demand
2495:Old-age spending
2470:
2468:
2467:
2462:
2447:
2445:
2444:
2439:
2424:
2422:
2421:
2416:
2401:
2399:
2398:
2393:
2378:
2376:
2375:
2370:
2356:
2354:
2353:
2348:
2325:
2305:
2264:
2262:
2261:
2256:
2254:
2253:
2237:
2235:
2234:
2229:
2211:
2209:
2208:
2203:
2170:is known as the
2169:
2167:
2166:
2161:
2149:
2147:
2146:
2141:
2139:
2138:
2116:
2114:
2113:
2108:
2106:
2105:
2086:
2084:
2083:
2078:
2076:
2075:
2063:
2062:
2040:
2038:
2037:
2032:
2030:
2029:
2013:
2011:
2010:
2005:
2003:
2002:
1960:
1958:
1957:
1952:
1937:
1935:
1934:
1929:
1914:
1912:
1911:
1906:
1891:
1889:
1888:
1883:
1869:
1867:
1866:
1861:
1841:
1840:
1828:
1827:
1815:
1814:
1794:
1792:
1791:
1786:
1784:
1783:
1771:
1770:
1758:
1757:
1624:in emergencies.
1595:
1576:
1574:
1573:
1568:
1566:
1565:
1547:
1545:
1544:
1539:
1509:
1507:
1506:
1501:
1487:
1485:
1484:
1479:
1477:
1476:
1458:
1456:
1455:
1450:
1448:
1447:
1429:
1428:
1354:
1352:
1351:
1346:
1328:
1326:
1325:
1320:
1305:
1303:
1302:
1297:
1282:
1280:
1279:
1274:
1260:
1258:
1257:
1252:
1199:energy economics
1172:fixed investment
1148:opportunity cost
1129:aggregate demand
1038:fixed investment
985:home electronics
969:
962:
955:
941:Money portal
939:
938:
937:
927:
926:
423:Natural resource
215:Economic systems
111:
88:
81:
74:
70:
67:
61:
56:this article by
47:inline citations
34:
33:
26:
3904:
3903:
3899:
3898:
3897:
3895:
3894:
3893:
3869:
3868:
3867:
3862:
3846:
3810:
3759:
3754:
3724:
3719:
3715:Consumerization
3683:
3678:Homo economicus
3662:Consumer's risk
3630:
3606:Consumer choice
3594:
3548:
3543:
3506:
3496:
3481:
3475:
3451:
3445:
3429:
3423:
3398:
3392:
3375:
3340:
3334:
3317:
3311:
3294:
3288:
3271:
3265:
3244:
3241:
3239:Further reading
3236:
3235:
3228:
3224:
3215:
3211:
3202:
3198:
3179:Social Research
3176:
3175:
3168:
3161:
3148:
3147:
3140:
3135:
3131:
3126:
3122:
3117:
3113:
3108:
3104:
3099:
3095:
3049:
3048:
3044:
3035:
3034:
3030:
3021:
3020:
3016:
3009:
2994:
2993:
2989:
2980:
2979:
2975:
2970:. 21 June 2014.
2966:
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2923:
2919:
2910:
2909:
2905:
2896:
2895:
2891:
2869:
2868:
2864:
2849:10.2307/2228949
2834:
2833:
2829:
2819:
2818:
2814:
2801:
2800:
2796:
2770:
2769:
2765:
2758:
2754:
2728:
2723:
2722:
2718:
2688:
2687:
2683:
2676:
2663:
2662:
2658:
2651:
2636:
2635:
2631:
2624:
2611:
2610:
2606:
2601:
2583:Overconsumption
2563:Consumer choice
2543:
2529:(from the book
2512:Western society
2497:
2481:sharing economy
2477:
2453:
2452:
2430:
2429:
2407:
2406:
2384:
2383:
2361:
2360:
2287:
2286:
2272:
2245:
2240:
2239:
2214:
2213:
2176:
2175:
2152:
2151:
2130:
2119:
2118:
2097:
2092:
2091:
2067:
2054:
2043:
2042:
2021:
2016:
2015:
1994:
1989:
1988:
1977:Milton Friedman
1973:
1943:
1942:
1920:
1919:
1897:
1896:
1874:
1873:
1832:
1819:
1806:
1801:
1800:
1775:
1762:
1749:
1744:
1743:
1714:
1693:
1680:
1671:
1655:Consumer taste:
1641:Household size:
1601:
1587:electric energy
1585:Consumption of
1583:
1557:
1552:
1551:
1512:
1511:
1492:
1491:
1468:
1463:
1462:
1439:
1420:
1409:
1408:
1394:
1372:consumer choice
1364:
1334:
1333:
1311:
1310:
1288:
1287:
1265:
1264:
1216:
1215:
1207:
1180:consumer choice
1125:
1087:Milton Friedman
1075:
1069:
1046:consumer choice
1019:social sciences
973:
935:
933:
921:
914:
913:
884:
874:
873:
872:
871:
635:von Böhm-Bawerk
523:
512:
511:
273:
265:
264:
220:Economic growth
210:
202:
201:
143:
141:classifications
82:
71:
65:
62:
52:Please help to
51:
35:
31:
24:
17:
12:
11:
5:
3902:
3900:
3892:
3891:
3886:
3881:
3871:
3870:
3864:
3863:
3861:
3860:
3854:
3852:
3848:
3847:
3845:
3844:
3839:
3834:
3829:
3824:
3818:
3816:
3812:
3811:
3809:
3808:
3803:
3798:
3793:
3788:
3783:
3778:
3773:
3767:
3765:
3761:
3760:
3755:
3753:
3752:
3745:
3738:
3730:
3721:
3720:
3718:
3717:
3712:
3707:
3702:
3697:
3691:
3689:
3685:
3684:
3682:
3681:
3674:
3669:
3664:
3659:
3654:
3649:
3644:
3638:
3636:
3632:
3631:
3629:
3628:
3623:
3618:
3613:
3608:
3602:
3600:
3599:Research types
3596:
3595:
3593:
3592:
3587:
3582:
3577:
3572:
3567:
3562:
3556:
3554:
3550:
3549:
3544:
3542:
3541:
3534:
3527:
3519:
3513:
3512:
3505:
3504:External links
3502:
3501:
3500:
3494:
3479:
3473:
3449:
3443:
3427:
3421:
3396:
3390:
3373:
3355:(3): 526–536.
3338:
3332:
3315:
3309:
3292:
3286:
3269:
3263:
3240:
3237:
3234:
3233:
3222:
3209:
3196:
3185:(2): 160–217.
3166:
3159:
3151:MACROECONOMICS
3138:
3129:
3120:
3111:
3102:
3093:
3042:
3028:
3014:
3007:
2987:
2973:
2959:
2945:
2931:
2917:
2903:
2889:
2878:(6): 609–645.
2862:
2827:
2812:
2809:on 2012-05-06.
2794:
2763:
2752:
2716:
2697:(2): 227–248.
2681:
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2126:
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2100:
2074:
2070:
2066:
2061:
2057:
2053:
2050:
2028:
2024:
2001:
1997:
1972:
1969:
1950:
1927:
1904:
1881:
1859:
1856:
1853:
1850:
1847:
1844:
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1713:
1710:
1709:
1708:
1704:
1692:
1689:
1679:
1676:
1670:
1667:
1648:Social groups:
1635:Interest rate:
1600:
1597:
1582:
1579:
1564:
1560:
1537:
1534:
1531:
1528:
1525:
1522:
1519:
1499:
1475:
1471:
1446:
1442:
1438:
1435:
1432:
1427:
1423:
1419:
1416:
1398:macroeconomics
1393:
1390:
1368:microeconomics
1363:
1360:
1344:
1341:
1318:
1295:
1272:
1250:
1247:
1244:
1241:
1238:
1235:
1232:
1229:
1226:
1223:
1206:
1203:
1124:
1121:
1077:The Keynesian
1071:Main article:
1068:
1065:
983:People buying
975:
974:
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957:
949:
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944:
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792:
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772:
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762:
757:
752:
747:
742:
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722:
717:
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707:
702:
697:
692:
687:
682:
677:
672:
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662:
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652:
647:
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637:
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622:
617:
612:
607:
602:
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592:
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582:
577:
572:
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562:
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552:
547:
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537:
532:
526:
525:
524:
518:
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499:
494:
489:
484:
479:
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469:
464:
455:
450:
445:
440:
435:
430:
428:Organizational
425:
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410:
405:
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335:
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285:
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272:By application
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97:
96:
84:
83:
38:
36:
29:
15:
13:
10:
9:
6:
4:
3:
2:
3901:
3890:
3887:
3885:
3882:
3880:
3877:
3876:
3874:
3859:
3856:
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3612:
3609:
3607:
3604:
3603:
3601:
3597:
3591:
3588:
3586:
3583:
3581:
3580:Consumer debt
3578:
3576:
3573:
3571:
3568:
3566:
3563:
3561:
3558:
3557:
3555:
3551:
3547:
3540:
3535:
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3528:
3526:
3521:
3520:
3517:
3511:
3508:
3507:
3503:
3497:
3491:
3487:
3486:
3480:
3476:
3470:
3466:
3462:
3458:
3454:
3450:
3446:
3440:
3436:
3432:
3428:
3424:
3418:
3414:
3410:
3405:
3404:
3397:
3393:
3387:
3383:
3379:
3374:
3370:
3366:
3362:
3358:
3354:
3350:
3349:
3344:
3339:
3335:
3329:
3325:
3321:
3316:
3312:
3306:
3302:
3298:
3293:
3289:
3283:
3279:
3275:
3270:
3266:
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3062:(42): 75–98.
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2552:Consumer debt
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528:
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433:Participation
431:
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393:Institutional
391:
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359:
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343:Expeditionary
341:
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333:Environmental
331:
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163:International
161:
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139:Branches and
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2504:Annie Hulley
2499:
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1983:in his book
1974:
1966:
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1917:
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1002:
1001:
899:Publications
864:
487:Sociological
460: /
358:Geographical
338:Evolutionary
313:Digitization
278:Agricultural
182:Mathematical
153:Econometrics
72:
63:
44:
3879:Consumption
3757:Consumption
3560:Consumption
3431:Slater, Don
2568:Consumerism
2535:Mark Levine
2520:generations
1003:Consumption
735:von Neumann
388:Information
328:Engineering
308:Development
303:Demographic
245:Game theory
187:Methodology
58:introducing
3873:Categories
2599:References
1156:production
1136:production
894:Economists
765:Schumacher
670:Schumpeter
640:von Wieser
560:von Thünen
521:economists
497:Statistics
492:Solidarity
413:Managerial
378:Humanistic
373:Historical
318:Ecological
283:Behavioral
177:Mainstream
66:March 2008
41:references
3688:Processes
3369:155524615
3324:Routledge
2711:123182293
2527:Die Broke
2339:×
2330:×
2310:×
2220:α
2185:∈
2182:α
2158:α
2128:×
2125:α
1843:×
1797:And then
1773:−
1521:∈
1437:∗
1383:However,
1375:maximize
1201:metrics.
1184:marketing
1140:Economics
1050:marketing
1015:economics
1007:investing
997:Indonesia
810:Greenspan
775:Samuelson
755:Galbraith
725:Tinbergen
665:von Mises
660:Heckscher
620:Edgeworth
438:Personnel
398:Knowledge
363:Happiness
353:Financial
323:Education
298:Democracy
192:Political
158:Heterodox
101:Economics
3815:Theories
3553:Concepts
3455:(2005).
3433:(1997).
3191:40969831
3088:55359390
2559:(COICOP)
2541:See also
2516:property
2150:, where
1722:John Rae
1168:services
1034:services
903:journals
889:Glossary
840:Stiglitz
805:Rothbard
785:Buchanan
770:Friedman
760:Koopmans
750:Leontief
730:Robinson
615:Marshall
519:Notable
467:Regional
443:Planning
418:Monetary
348:Feminist
293:Cultural
288:Business
93:a series
91:Part of
2857:2228949
2359:Where
1979:in the
1644:scale.
1607:Income:
1377:utility
993:Jakarta
909:Schools
901: (
860:Piketty
855:Krugman
720:Kuznets
710:Kalecki
685:Polanyi
575:Cournot
570:Bastiat
555:Ricardo
545:Malthus
535:Quesnay
507:Welfare
477:Service
148:Applied
124:Outline
119:History
54:improve
3764:Topics
3492:
3471:
3441:
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3388:
3367:
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2428:Where
2405:Where
2382:Where
1941:Where
1918:Where
1895:Where
1872:Where
1461:Where
1332:Where
1309:Where
1286:Where
1263:Where
1195:energy
1011:future
845:Thaler
825:Ostrom
820:Becker
815:Sowell
795:Baumol
700:Myrdal
695:Sraffa
690:Frisch
680:Knight
675:Keynes
650:Fisher
645:Veblen
630:Pareto
610:Menger
605:George
600:Jevons
595:Walras
585:Gossen
453:Public
448:Policy
403:Labour
368:Health
225:Market
43:, but
3851:Lists
3365:S2CID
3187:JSTOR
3084:S2CID
2853:JSTOR
2783:(1).
2729:(PDF)
2707:S2CID
1981:1950s
1734:1930s
1726:1830s
1662:Area:
1164:goods
1030:goods
987:at a
882:Lists
850:Hoppe
835:Lucas
800:Solow
790:Arrow
780:Simon
745:Lange
740:Hicks
715:Röpke
705:Hayek
655:Pigou
625:Clark
540:Smith
502:Urban
482:Socio
472:Rural
172:Macro
168:Micro
129:Index
3490:ISBN
3469:ISBN
3439:ISBN
3417:ISBN
3386:ISBN
3328:ISBN
3305:ISBN
3282:ISBN
3259:ISBN
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2785:SSRN
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1166:and
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866:more
590:Marx
580:Mill
565:List
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1366:In
1210:GDP
1197:in
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991:in
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550:Say
408:Law
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