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Hyperbolic Discounting and Household Consumption:An Analysis based on a Large-scale Survey in Japan

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  • Shoko Morimoto

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    (Osaka University, Department of Economics)

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    Abstract

    In this paper, I investigate what is the difference in consumption behavior between hyperbolic and non-hyperbolic discounting households by using data from hJapan Household Survey on Consumer Preferences and Satisfactionh conducted by Osaka University. I show that the marginal propensity to consumption out of income (fixed assets, respectively) of hyperbolic discounting household is higher (lower) than that of non-hyperbolic discounting household. These results are consistent with the theoretical propositions by Laibson (1997) and Angeletos et al. (2001).

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    File URL: http://www2.econ.osaka-u.ac.jp/library/global/dp/0919.pdf
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    Bibliographic Info

    Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 09-19.

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    Length: 20 pages
    Date of creation: Jul 2009
    Date of revision:
    Handle: RePEc:osk:wpaper:0919

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    Web page: http://www.econ.osaka-u.ac.jp/
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    Keywords: Hyperbolic discounting; Marginal propensity to consume;

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