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

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Author Info
Shoko Morimoto () (Osaka University, Department of Economics)
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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Publisher 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
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Handle: RePEc:osk:wpaper:0919

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

Find related papers by JEL classification:
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving

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This page was last updated on 2009-11-26.

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