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Two-stage Budgeting as an Economic Decision-making Process for Spanish Consumers

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  • José Alberto Molina

    (Department of Economic Analysis, University of Zaragoza, Spain)

Abstract

Two-stage budgeting as an economic decision-making process for consumers is illustrated by its application to new data. After showing that the Spanish observed behaviour is consistent with utility maximization, we estimate, for each stage, the elasticities of a dynamic AIDS model, which allow us to explain the economic decisions of consumers. The main findings show that all goods are normal and display decreasing demands, as theory predicts. In particular, transport, in the first stage, and the purchase of personal vehicles, in the second, show the highest expenditure effects. Moreover, transport and public transport display the highest Marshallian own-price elasticities. © 1997 John Wiley & Sons, Ltd.

Suggested Citation

  • José Alberto Molina, 1997. "Two-stage Budgeting as an Economic Decision-making Process for Spanish Consumers," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 18(1), pages 27-31.
  • Handle: RePEc:wly:mgtdec:v:18:y:1997:i:1:p:27-31
    DOI: 10.1002/(SICI)1099-1468(199702)18:1<27::AID-MDE801>3.0.CO;2-F
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    Citations

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    Cited by:

    1. Bravo, Yolanda & Rodrigo, Alejandro, 2019. "Analysis of demand characteristics for transport and communication in Spain from 1980 to 2015," MPRA Paper 94055, University Library of Munich, Germany.
    2. José Alberto Molina & Juan Carlos Campaña & Raquel Ortega, 2017. "Children’s interaction with the Internet: time dedicated to communications and games," Applied Economics Letters, Taylor & Francis Journals, vol. 24(6), pages 359-364, March.
    3. Miranda-Buetas, Sara & Gracia-Raluy, Elisa, 2019. "Análisis de los Patrones de Demanda en el Sector Textil Español
      [Demand Analysis of Clothing Sector in Spain]
      ," MPRA Paper 92430, University Library of Munich, Germany.
    4. Molina, Jose Alberto & Campaña, Juan Carlos & Ortega, Raquel, 2015. "Time dedicated by consumers to cultural goods: Determinants for Spain," MPRA Paper 68430, University Library of Munich, Germany.
    5. Mora Gómez, Manuel & Mompel Lancina, David, 2019. "Cultura, educación y ocio en España: Estimaciones del Sistema de Demanda Casi Ideal y del Modelo de Rotterdam
      [Culture, education and laisure in Spain: Estimation of the Ideal demand system and Rot
      ," MPRA Paper 94477, University Library of Munich, Germany.
    6. José Alberto Molina & Juan Carlos Campaña & Raquel Ortega, 2016. "Time spent on cultural activities at home in Spain: Differences between wage-earners and the self-employed," Documentos de Trabajo dt2016-01, Facultad de Ciencias Económicas y Empresariales, Universidad de Zaragoza.
    7. García, Lucia, 2018. "Inter-generational and intra-generational transfers: international evidence," MPRA Paper 83986, University Library of Munich, Germany.
    8. García, Lucia & Molina, José Alberto, 2017. "The household structure: recent international evolution," MPRA Paper 82049, University Library of Munich, Germany.
    9. Javier García-Enríquez & Cruz A. Echevarría, 2016. "Consistent Estimation of a Censored Demand System and Welfare Analysis: The 2012 VAT Reform in Spain," Journal of Agricultural Economics, Wiley Blackwell, vol. 67(2), pages 324-347, June.
    10. Perchín Milián, Celia & Cañoto Martínez, Miguel, 2019. "Gastos Médicos en España: Estimaciones del Sistema de Demanda Casi Ideal y del Modelo de Rotterdam
      [Medical Expenses in Spain: Estimations of the Almost Ideal Demand System and of the Rotterdam Mod
      ," MPRA Paper 92400, University Library of Munich, Germany.
    11. Molina, Jose Alberto & Campaña, Juan Carlos & Ortega, Raquel, 2016. "Internet and the elderly in Spain: Time dedicated to search and communications," MPRA Paper 74419, University Library of Munich, Germany.
    12. Campaña, Juan Carlos, 2017. "Time devoted by elderly people to physical activities: micro-econometric evidence from Spain," MPRA Paper 80391, University Library of Munich, Germany.
    13. Gimenez-Nadal, Jose Ignacio & Molina, Jose Alberto, 2017. "The Substitution Effect and the Profit Function in Consumption: expressions from the Marshallian, Hicksian, and Frischian demand functions," MPRA Paper 82249, University Library of Munich, Germany.
    14. Alcay, Alejandro & Escudero, Carlos, 2019. "Efectos de la renta y los precios en la demanda de alimentos: un análisis para el caso español 1980-2015
      [Efects of income and prices in food demand: an analysis for the Spanish case 1980-2015]
      ," MPRA Paper 92698, University Library of Munich, Germany.
    15. Baigorri, Bárbara & Ledesma, Ana, 2019. "Rentas de vivienda y suministros en el hogar: Selección del modelo microeconómico ideal para representar las preferencias del consumidor
      [Household income and supplies in the home: Selection of the
      ," MPRA Paper 93265, University Library of Munich, Germany.
    16. Ferrando-Latorre, Sandra, 2017. "Risky consumption and intergenerational mobility: a research program in a family context," MPRA Paper 79777, University Library of Munich, Germany.
    17. repec:eee:enepol:v:109:y:2017:i:c:p:22-35 is not listed on IDEAS
    18. Molina, Jose Alberto & Campaña, Juan Carlos & Ortega, Raquel, 2015. "What do you prefer for a relaxing and cultural time at home: Reading, watching TV, or listening to the radio?," MPRA Paper 68454, University Library of Munich, Germany.
    19. Magaña, Diego & Muñoz, Katherine, 2019. "¿Cuál es el modelo microeconómico ideal para representar las preferencias de los consumidores españoles en el periodo 1980-2015?: El caso de muebles, mobiliario y equipamiento
      [Which is the ideal m
      ," MPRA Paper 94604, University Library of Munich, Germany.
    20. García, Lucia & Velilla, Jorge, 2018. "Estimación del Modelo de Demanda de Rotterdam para España: evolución de las elasticidades
      [Estimation of the Rotterdam Model in Spain: the Evolution of Elasticities]
      ," MPRA Paper 88785, University Library of Munich, Germany.
    21. Boldova, Daniel Miguel, 2019. "Efectos económicos de las leyes sobre la estructura familiar: Evidencia internacional del divorcio y la custodia
      [Economic effects of family structure laws: International evidence of divorce and cu
      ," MPRA Paper 96440, University Library of Munich, Germany.

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