Propensity to search: common, leisure, and labor models of consumer behavior
The analysis of the propensity to search specifies the “common” or the ordinary model of consumer behavior based on the synthesis of the neoclassical approach with satisficing concept and “leisure” and “labor” models of behavior that represent different combinations of conspicuous consumption, leisure, and labor. Some of these combinations result in phenomena of Veblen effect and money illusion. While “the common model” of behavior demonstrates a moderate propensity to search, “leisure” and “labor” models of consumer behavior manifest vigorous propensities to search. The analysis of trends in allocation of time in the USA during last decades assumes that women have followed “common model” of behavior while men have exhibited both “leisure” and “labor” models of behavior.
|Date of creation:||Jan 2015|
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- Malakhov, Sergey, 2012. "Veblen effect, search for status goods, and negative utility of conspicuous leisure," MPRA Paper 40809, University Library of Munich, Germany.
- KennethJ. Arrow & ParthaS. Dasgupta, 2009. "Conspicuous Consumption, Inconspicuous Leisure," Economic Journal, Royal Economic Society, vol. 119(541), pages 497-516, November.
- Mark Aguiar & Erik Hurst, 2007. "Life-Cycle Prices and Production," American Economic Review, American Economic Association, vol. 97(5), pages 1533-1559, December.
- Sergey Malakhov, 2014.
"Satisficing Decision Procedure and Optimal Consumption-Leisure Choice,"
International Journal of Social Science Research,
Macrothink Institute, vol. 2(2), pages 138-151, September.
- Malakhov, Sergey, 2012. "Satisficing decision procedure and optimal consumption-leisure choice," MPRA Paper 38964, University Library of Munich, Germany.
- Sergey MALAKHOV, 2014.
"Willingness to Overpay for Insurance and for Consumer Credit: Search and Risk Behavior Under Price Dispersion,"
Expert Journal of Economics,
Sprint Investify, vol. 2(3), pages 109-119.
- Malakhov, Sergey, 2014. "Consumer search behavior and willingness to pay for insurance under price dispersion," MPRA Paper 59530, University Library of Munich, Germany.
- Malakhov, Sergey, 2014. "Willingness to overpay for insurance and for consumer credit: search and risk behavior under price dispersion," MPRA Paper 59720, University Library of Munich, Germany.
- Malakhov, Sergey, 2014. "Sunk costs of consumer search: economic rationality of satisficing decision," MPRA Paper 53493, University Library of Munich, Germany.
- Mark Aguiar & Erik Hurst, 2007.
"Measuring Trends in Leisure: The Allocation of Time Over Five Decades,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 122(3), pages 969-1006.
- Mark Aguiar & Erik Hurst, 2006. "Measuring Trends in Leisure: The Allocation of Time Over Five Decades," NBER Working Papers 12082, National Bureau of Economic Research, Inc.
- Mark Aguiar & Erik Hurst, 2006. "Measuring trends in leisure: the allocation of time over five decades," Working Papers 06-2, Federal Reserve Bank of Boston.
- Malakhov, Sergey, 2013. "Money flexibility and optimal consumption-leisure choice under price dispersion," MPRA Paper 45197, University Library of Munich, Germany.
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