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

  • Shoko Morimoto

    ()

    (Osaka University, Department of Economics)

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    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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    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
    Contact details of provider: Web page: http://www.econ.osaka-u.ac.jp/Email:


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