The absent-minded consumer:
We present evidence that many households have only a vague notion of what they are spending on various consumption items. We then develop a life-cycle model that captures this absent-mindedness'. The model generates precautionary spending, whereby absent-minded agents tend to consume more than...
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| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2004
|
| Series: | Working paper series / National Bureau of Economic Research
10216 |
| Online Access: | Volltext |
| Summary: | We present evidence that many households have only a vague notion of what they are spending on various consumption items. We then develop a life-cycle model that captures this absent-mindedness'. The model generates precautionary spending, whereby absent-minded agents tend to consume more than attentive ones. The model also predicts fluctuations over time in the level of attention, and thereby sheds new light on the sharp reduction in consumption both at retirement, and in cyclical downturns. Finally, we find patterns of attention in the data that are consistent with those predicted by the model. |
| Item Description: | Literaturverz. S. 28 - 30 |
| Physical Description: | 33 S. 22 cm |
Staff View
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| 520 | |a We present evidence that many households have only a vague notion of what they are spending on various consumption items. We then develop a life-cycle model that captures this absent-mindedness'. The model generates precautionary spending, whereby absent-minded agents tend to consume more than attentive ones. The model also predicts fluctuations over time in the level of attention, and thereby sheds new light on the sharp reduction in consumption both at retirement, and in cyclical downturns. Finally, we find patterns of attention in the data that are consistent with those predicted by the model. | ||
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| id | DE-604.BV023590631 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T22:41:27Z |
| indexdate | 2024-07-09T21:25:09Z |
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| publishDate | 2004 |
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| spelling | Ameriks, John 1968- Verfasser (DE-588)129335479 aut The absent-minded consumer John Ameriks ; Andrew Caplin ; John Leahy Cambridge, Mass. National Bureau of Economic Research 2004 33 S. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 10216 Literaturverz. S. 28 - 30 We present evidence that many households have only a vague notion of what they are spending on various consumption items. We then develop a life-cycle model that captures this absent-mindedness'. The model generates precautionary spending, whereby absent-minded agents tend to consume more than attentive ones. The model also predicts fluctuations over time in the level of attention, and thereby sheds new light on the sharp reduction in consumption both at retirement, and in cyclical downturns. Finally, we find patterns of attention in the data that are consistent with those predicted by the model. Caplin, Andrew 1956- Verfasser (DE-588)129239178 aut Leahy, John Vincent Verfasser (DE-588)129239259 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 10216 (DE-604)BV002801238 10216 http://papers.nber.org/papers/w10216.pdf kostenfrei Volltext |
| spellingShingle | Ameriks, John 1968- Caplin, Andrew 1956- Leahy, John Vincent The absent-minded consumer |
| title | The absent-minded consumer |
| title_auth | The absent-minded consumer |
| title_exact_search | The absent-minded consumer |
| title_exact_search_txtP | The absent-minded consumer |
| title_full | The absent-minded consumer John Ameriks ; Andrew Caplin ; John Leahy |
| title_fullStr | The absent-minded consumer John Ameriks ; Andrew Caplin ; John Leahy |
| title_full_unstemmed | The absent-minded consumer John Ameriks ; Andrew Caplin ; John Leahy |
| title_short | The absent-minded consumer |
| title_sort | the absent minded consumer |
| url | http://papers.nber.org/papers/w10216.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT ameriksjohn theabsentmindedconsumer AT caplinandrew theabsentmindedconsumer AT leahyjohnvincent theabsentmindedconsumer |