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REVIEW OF THE LIFE CYCLE HYPOTHESIS OF CONSUMPTION AND SAVING
Title
A REVIEW OF THE LIFE CYCLE HYPOTHESIS OF CONSUMPTION AND SAVING.
Creator
SHELOR, CARROLL FREDERICK., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description
This thesis reviews the major literature associated with the Life Cycle Hypothesis of Consumption and Saving as formulated by Franco Modigliani, Richard Brumberg and Albert Ando. The initial microeconomic formulation of the theoretical model of individual consumer behavior in terms of life time planning was examined under conditions of both stability and growth. Next, the attempts to seek empirical support for the propositions of the theory in cross-section survey data and the tests of the...
Show moreThis thesis reviews the major literature associated with the Life Cycle Hypothesis of Consumption and Saving as formulated by Franco Modigliani, Richard Brumberg and Albert Ando. The initial microeconomic formulation of the theoretical model of individual consumer behavior in terms of life time planning was examined under conditions of both stability and growth. Next, the attempts to seek empirical support for the propositions of the theory in cross-section survey data and the tests of the aggregate implications of the theory were examined. It was concluded that within the current conceptual framework of macroeconomics the theory has a fairly high level of explanatory force, and should further future inquiry.
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Date Issued
1976
PURL
http://purl.flvc.org/fcla/dt/13814
Subject Headings
Consumption (Economics)
Format
Document (PDF)
empirical analysis of consumption behavior for selected European economies
Title
An empirical analysis of consumption behavior for selected European economies.
Creator
Lyroudi, Katerina., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
Abstract/Description
This thesis first outlines the main theoretical approaches to the consumption function, such as the Absolute Income Hypothesis, the Relative Income Hypothesis, the Life-Cycle Hypothesis and the Permanent Income Hypothesis. Furthermore, it highlights the importance of expectations for consumption behavior and presents an econometric specification of the consumption function, utilizing the adaptive and rational expectations formation mechanisms. Important empirical issues regarding the...
Show moreThis thesis first outlines the main theoretical approaches to the consumption function, such as the Absolute Income Hypothesis, the Relative Income Hypothesis, the Life-Cycle Hypothesis and the Permanent Income Hypothesis. Furthermore, it highlights the importance of expectations for consumption behavior and presents an econometric specification of the consumption function, utilizing the adaptive and rational expectations formation mechanisms. Important empirical issues regarding the inclusion of other determinants of consumption are also discussed. Finally, an econometric analysis of consumption for Greece, Germany, France, Italy and the United Kingdom is presented.
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Date Issued
1988
PURL
http://purl.flvc.org/fcla/dt/14444
Subject Headings
Consumption (Economics)--Europe
Format
Document (PDF)
SPECTRAL ANALYSIS OF MONEY, INCOME AND EXPENDITURE
Title
A SPECTRAL ANALYSIS OF MONEY, INCOME AND EXPENDITURE.
Creator
BENNETT, MARIE ELAINE., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description
This thesis tests whether a simple income-expenditure model is a better predictor of induced expenditure and thus income than a simple quantity theory model. A spectral analysis was performed using alternative definitions of money, income and expenditure. From the results of cross spectral analysis, it was concluded that the money supply is the better predictor of short run (8 months - 3 years) fluctuations in consumption and thus in income.
Date Issued
1973
PURL
http://purl.flvc.org/fcla/dt/13570
Subject Headings
Income, Consumption (Economics), Econometrics
Format
Document (PDF)
Consumer evaluations of multiple price changes over time versus a single dollar equivalent price change
Title
Consumer evaluations of multiple price changes over time versus a single dollar equivalent price change.
Creator
Tewari, Jitendra Kumar, Florida Atlantic University, Georgoff, David M.
Abstract/Description
In many markets sellers have to make decisions on the rate of price change for a product. Prices can be increased or decreased by making a single large change, or as by making multiple smaller changes over time, leading to the same final price. The concern of sellers is the consumer response, in terms of the product's demand. With the exception of deliberate demarketing, sellers seek to minimize demand decreases in response to price increases, and maximize the positive impact in terms of...
Show moreIn many markets sellers have to make decisions on the rate of price change for a product. Prices can be increased or decreased by making a single large change, or as by making multiple smaller changes over time, leading to the same final price. The concern of sellers is the consumer response, in terms of the product's demand. With the exception of deliberate demarketing, sellers seek to minimize demand decreases in response to price increases, and maximize the positive impact in terms of increased purchases, when prices are decreased. Price changes can be made in a short period, or over a more extended duration. In some buying contexts the market may be characterized by highly fluctuating prices that create price uncertainty in the minds of the consumer. Further, consumers give varying levels of importance or weight to their past purchase experience when they make purchase decisions. This research develops theory and examines hypotheses to examine the effectiveness of single versus multiple price change strategies over time, in different contexts, using a prospect theory and reference price framework. The study finds (1) The greater the number of purchase occasions between successive price changes, the lesser is the impact on demand of a strategy of multiple price changes. (2) In situations of high price uncertainty strategies of multiple price increases lead to smaller demand decreases, and strategies of multiple price increases lead to higher demand increases, when compared to price certain situations. (3) The importance or weight assigned by consumers to the last purchase experience does not appear to significantly impact the outcomes of intertemporal price strategies. (4) The impact of price decreases appears to be more than that of price increases, in the two contexts of uncertainty, and a greater weight being assigned to the last purchase occasion. In previous research prospect theory has been used primarily in a static framework, and the prospect theory approach has used reference prices to analyze the impact of price changes in product bundling situations. This research extends the prospect theory and reference price framework to price change strategies over time, where reference prices vary and adapt.
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Date Issued
2001
PURL
http://purl.flvc.org/fcla/dt/11950
Subject Headings
Prices, Consumption (Economics), Consumer Behavior
Format
Document (PDF)
Stock prices and consumption: A new variable in the consumption function?
Title
Stock prices and consumption: A new variable in the consumption function?.
Creator
Kinney, Timothy P., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description
This thesis examines the significance of the real interest rate and stock prices as explanatory variables in the aggregate consumption function. This study applies the methodologies of OLS regression analysis and tests of cointegration to examine the relationship between stock prices and consumption. The empirical results suggest that stock prices are a significant factor in the modified aggregate consumption function. Consumers, perceiving stock prices to be an indicator of their wealth, are...
Show moreThis thesis examines the significance of the real interest rate and stock prices as explanatory variables in the aggregate consumption function. This study applies the methodologies of OLS regression analysis and tests of cointegration to examine the relationship between stock prices and consumption. The empirical results suggest that stock prices are a significant factor in the modified aggregate consumption function. Consumers, perceiving stock prices to be an indicator of their wealth, are making more expenditures on durable goods as they perceive increases in stock values to be permanent. Finally, the results of the tests for cointegration suggest that there is no long-run equilibrium relationship between stock prices and consumption.
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Date Issued
1997
PURL
http://purl.flvc.org/fcla/dt/15504
Subject Headings
Consumption (Economics), Stocks--Prices
Format
Document (PDF)
Consumed
Title
Consumed: simple choices, complex problems.
Creator
Shimpeno, Peter David., Dorothy F. Schmidt College of Arts and Letters, Department of Visual Arts and Art History
Abstract/Description
The intention of this exhibition is to educate the viewer about the hidden impacts that result from simple choices of consumption. This is a critique of the materials economy and the responsibilities of the designers, consumers and industries that contributed to its success. The critique is expressed through four dominant and unsustainable consumer products: water bottles, plastic shopping bags, cigarette filters and farm chemicals, as each has its own specific story of consumption. The form...
Show moreThe intention of this exhibition is to educate the viewer about the hidden impacts that result from simple choices of consumption. This is a critique of the materials economy and the responsibilities of the designers, consumers and industries that contributed to its success. The critique is expressed through four dominant and unsustainable consumer products: water bottles, plastic shopping bags, cigarette filters and farm chemicals, as each has its own specific story of consumption. The form is derived from manufacturing history, statistical data, and profiles of consumer behaviors. Graphic design is utilized in both formal and non-formal methods with the goal of communicating specific messages to the viewer as they progress through the exhibition space.
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Date Issued
2010
PURL
http://purl.flvc.org/FAU/2979381
Subject Headings
Consumption (Economics), Moral and ethical aspects, Consumption (Economics), Social aspects, Environmental ethics
Format
Document (PDF)
Deconstructing the politics of culture jamming
Title
Deconstructing the politics of culture jamming: true cost economics.
Creator
Seidl, Jana, Harriet L. Wilkes Honors College
Abstract/Description
Culture Jammers, an activist guerilla-like movement, entered the global scene in the 1990s and, through public performances, attempt to draw attention to their claim that the US economic structure is facing a fundamental need to shift away from a consumer-oriented capitalist economy. As an alternative, the activists propose--True Cost economics, a model that would include the costs of negative production and consumption externalities in the pricing of commodities. In this paper, I focus on...
Show moreCulture Jammers, an activist guerilla-like movement, entered the global scene in the 1990s and, through public performances, attempt to draw attention to their claim that the US economic structure is facing a fundamental need to shift away from a consumer-oriented capitalist economy. As an alternative, the activists propose--True Cost economics, a model that would include the costs of negative production and consumption externalities in the pricing of commodities. In this paper, I focus on culture jammers' critique of neoclassical economics, more specifically, the clash of the--new paradigm (True Cost economics) and the old paradigm (neoclassical economics). In evaluating whether True Cost economics is a feasible alternative, I graphically examine how the True Cost solution and the neoclassical market model correct for negative externalities to reveal similarities in the two models.
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Date Issued
2008
PURL
http://purl.flvc.org/FAU/77690
Subject Headings
Consumption (Economics), Social aspects, Neoclassical school of economics, History, Microeconomics, Mass media and culture
Format
Document (PDF)
How green is the mouse?
Title
How green is the mouse?: a look at the use of green marketing in Walt Disney World to promote environmental policy and standards.
Creator
Piccirillo, Cara., Harriet L. Wilkes Honors College
Abstract/Description
My project "How Green is the Mouse?" analyses the ways in which the Disney Company utilizes various green marketing strategies in an effort to appeal to the growing number of eco-conscious consumers. My study examines different strategies of green marketing and evaluates the use of these strategies in relation to discussions of the "greenwash" concept. Examples of such strategies include green selling, when a company continues to manufacture a pre-existing product with changes only in...
Show moreMy project "How Green is the Mouse?" analyses the ways in which the Disney Company utilizes various green marketing strategies in an effort to appeal to the growing number of eco-conscious consumers. My study examines different strategies of green marketing and evaluates the use of these strategies in relation to discussions of the "greenwash" concept. Examples of such strategies include green selling, when a company continues to manufacture a pre-existing product with changes only in marketing and not policy or output, and green partnerships, when a company undertakes a more eco-friendly appearance simply by collaborating with a well-known environmental organization. In this study, I investigate the various methods of green marketing utilized throughout the parks and other attraction areas of Walt Disney World, located near Orlando, Florida.
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Date Issued
2008
PURL
http://purl.flvc.org/FAU/77683
Subject Headings
Green marketing, Consumption (Economics), Environmental aspects, Consumer behavior, Marketing
Format
Document (PDF)
TIME SERIES ANALYSIS OF INCOME AND CONSUMPTION
Title
TIME SERIES ANALYSIS OF INCOME AND CONSUMPTION.
Creator
THEALL, GEORGE ALBERT., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description
This thesis uses time series analysis to construct models of income and consumption in the United States between 1947 and 1983. The data are quarterly observations on three measures of income and two of consumption. The study begins with a survey of univariate and multivariate model building techniques. With the life cycle - permanent income hypothesis as a foundation, theoretical models of income and consumption are discussed. These models are then fit to the data and examined. Tests for...
Show moreThis thesis uses time series analysis to construct models of income and consumption in the United States between 1947 and 1983. The data are quarterly observations on three measures of income and two of consumption. The study begins with a survey of univariate and multivariate model building techniques. With the life cycle - permanent income hypothesis as a foundation, theoretical models of income and consumption are discussed. These models are then fit to the data and examined. Tests for causality are also covered in order to determine the manner in which the two processes are related in a multivariate model.
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Date Issued
1983
PURL
http://purl.flvc.org/fcla/dt/14184
Subject Headings
Income--United States, Consumption (Economics)--United States, Time-series analysis
Format
Document (PDF)
Stochastic processes in the social sciences
Title
Stochastic processes in the social sciences: markets, prices and wealth distributions.
Creator
Romero, Natalia E., Charles E. Schmidt College of Science, Department of Physics
Abstract/Description
The present work uses statistical mechanics tools to investigate the dynamics of markets, prices, trades and wealth distribution. We studied the evolution of market dynamics in different stages of historical development by analyzing commodity prices from two distinct periods : ancient Babylon, and medieval and early modern England. We find that the first-digit distributrions of both Babylon and England commodity prices follow Benford's Law, indicating that the data represent empirical...
Show moreThe present work uses statistical mechanics tools to investigate the dynamics of markets, prices, trades and wealth distribution. We studied the evolution of market dynamics in different stages of historical development by analyzing commodity prices from two distinct periods : ancient Babylon, and medieval and early modern England. We find that the first-digit distributrions of both Babylon and England commodity prices follow Benford's Law, indicating that the data represent empirical observations typically arising from a free market. Further, we find that the normalized prices of both Babylon and England agricultural commodities are characterized by stretched exponential distributions, and exhibit persistent correlations of a power law type over long periods of up to several centuries, in contrast to contemporary markets. Our findings suggest that similar market interactions may underlie the dynamics of ancient agricultural commodity prices, and that these interactions may remain stable across centuries. To further investigate the dynamics of markets, we present the analogy between transfers of money between individuals and the transfer of energy through particle collisions by means of the kinetic theory of gases. We introduce a theoretical framework of how micro rules of trading lead to the emergence of income and wealth distribution. Particularly, we study the effects of different types of distribution of savings/investments among individuals in a society and different welfare/subsidies redistribution policies. Results show that while considering savings propensities, the models approach empirical distributions of wealth quite well. The effect of redistribution better captures specific features of the distributions which earlier models failed to do. Moreover, the models still preserve the exponential decay observed in empirical income distributions reported by tax data and surveys.
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Date Issued
2012
PURL
http://purl.flvc.org/FAU/3352825
Subject Headings
Stochastic processes, Mathematical models, Consumption (Economics), Mathematical models, Business cycles, Mathematical models, Statics and dynamics (Social sciences), Mathematical models
Format
Document (PDF)
Changing Consumer Behavior through Ambient Displays in Smart Cafeterias and Detecting Anomalous Reporting Behavior in Wireless Sensors
Title
Changing Consumer Behavior through Ambient Displays in Smart Cafeterias and Detecting Anomalous Reporting Behavior in Wireless Sensors.
Creator
Hughes, Shiree, Hallstrom, Jason O., Florida Atlantic University, College of Engineering and Computer Science, Department of Computer and Electrical Engineering and Computer Science
Abstract/Description
Food availability and food waste are signi cant global problems which can be mitigated through the use of sensor networks. Current methods of monitoring food waste require manual data collection and are implemented infrequently, providing imprecise information. The use of sensors to automate food waste measurement allows constant monitoring, provides a better dataset for analysis, and enables real- time feedback, which can be used to affect behavioral change in consumers. The data from such...
Show moreFood availability and food waste are signi cant global problems which can be mitigated through the use of sensor networks. Current methods of monitoring food waste require manual data collection and are implemented infrequently, providing imprecise information. The use of sensors to automate food waste measurement allows constant monitoring, provides a better dataset for analysis, and enables real- time feedback, which can be used to affect behavioral change in consumers. The data from such networks can be used to drive ambient displays designed to educate a target audience, and ultimately reduce the amount of waste generated. We present WASTE REDUCE, a system for automating the measurement of food waste and affecting behavioral change. The challenges and results of deploying such a system are presented. To assess the bene ts of using WASTE REDUCE, two case studies are conducted. The rst study evaluates three different displays, and the second reevaluates one of these displays in a separate location. These studies con rm that the combination of automated monitoring and ambient feedback can reduce food waste for targeted groups.
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Date Issued
2017
PURL
http://purl.flvc.org/fau/fd/FA00004896, http://purl.flvc.org/fau/fd/FA00004896
Subject Headings
Consumer behavior., Intelligent sensors., Wireless sensor networks., Wireless communication systems., Environmental economics., Food consumption--Measurement., Food industry and trade--Safety measures., Food supply--Globalization.
Format
Document (PDF)
Marketing the television apparatus for American consumption: Producing meaning in contemporary magazine advertisements
Title
Marketing the television apparatus for American consumption: Producing meaning in contemporary magazine advertisements.
Creator
Maskevich, Kimberly J., Florida Atlantic University, Freedman, Eric M.
Abstract/Description
Contemporary magazine ads for television sets have much in common with their post WWII counterparts, the latter being produced during an era when the new technology was first getting installed in homes across the United States. Much has changed in the TV landscape since the postwar years. In particular, digital technology has altered the general terrain and set choices themselves are more diverse. Digital television began penetrating the marketplace in the 1990s and is predicted to become...
Show moreContemporary magazine ads for television sets have much in common with their post WWII counterparts, the latter being produced during an era when the new technology was first getting installed in homes across the United States. Much has changed in the TV landscape since the postwar years. In particular, digital technology has altered the general terrain and set choices themselves are more diverse. Digital television began penetrating the marketplace in the 1990s and is predicted to become mainstream by 2010. Even though the cultural climate has shifted since the postwar era, along with the concept of the familial and traditional notions of gender, the rhetorical strategies in advertising are strikingly similar. This essay examines 11 national ads by Sharp, Philips, Panasonic and Pioneer taken from contemporary popular women's magazines between the years 1998 and 2005. This essay considers the discourses attached to the evolved television apparatus as its digital incarnation is introduced into the private sphere of American homes. Each of the ads is placed within the framework of political economy, reading changes in the ad industry and the broadcast industry in such a context.
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Date Issued
2006
PURL
http://purl.flvc.org/fcla/dt/13331
Subject Headings
Consumption (Economics)--United States, Advertising--Social aspects--United States, Television advertising--Social aspects, Communication and culture--United States
Format
Document (PDF)
Juicing the Potato: The Giffen Effect and Market Volatility
Title
Juicing the Potato: The Giffen Effect and Market Volatility.
Creator
Fiske, Brian, Van Tassel, Eric, Florida Atlantic University
Abstract/Description
The key objective of this thesis is to explain how aggregate agent investment behavior, in the presence of a Giffen Good, leads to excess market volatility. The thesis relies on two microeconomic models. The first model demonstrates how, in the presence of a Giffen Good, the demand curve is discontinuous and upward sloping. By analyzing the demand curve, price regions of potential volatility are identified. Using the first model as a foundation, a second model is introduced in which a...
Show moreThe key objective of this thesis is to explain how aggregate agent investment behavior, in the presence of a Giffen Good, leads to excess market volatility. The thesis relies on two microeconomic models. The first model demonstrates how, in the presence of a Giffen Good, the demand curve is discontinuous and upward sloping. By analyzing the demand curve, price regions of potential volatility are identified. Using the first model as a foundation, a second model is introduced in which a speculator trades in a dynamic setting. In this dynamic framework, opportunities for profit making by the speculator are identified. The speculative behavior aggravates market volatility.
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Date Issued
2007
PURL
http://purl.flvc.org/fau/fd/FA00000302
Subject Headings
Investment analysis--Mathematics, Giffen, Robert,--1837-1910, Consumption (Economics)--Mathematical models--Ireland, Consumer behavior--Ireland, Microeconomics
Format
Document (PDF)
What is old is new again
Title
What is old is new again: the role of discontinuity in nostalgia-related consumption.
Creator
Rutherford, Jana., College of Business, Department of Marketing
Abstract/Description
A 'wave of nostalgia' has gripped the US leading to nostalgic fashions, furniture, television programming and even food. The marketing literature suggests that nostalgic-related consumption is the result of an aging population. It has been proposed that the purchase of nostalgic-products and services is an attempt by mature consumers to return psychologically to the ease, certainties and conflict free periods that existed or seemed to exist during their childhood or adolescence. This paper...
Show moreA 'wave of nostalgia' has gripped the US leading to nostalgic fashions, furniture, television programming and even food. The marketing literature suggests that nostalgic-related consumption is the result of an aging population. It has been proposed that the purchase of nostalgic-products and services is an attempt by mature consumers to return psychologically to the ease, certainties and conflict free periods that existed or seemed to exist during their childhood or adolescence. This paper proposes that discontinuity, as argued by Davis (1979), is a better explanation for why people develop a preference for and consume nostalgic goods. Although some insights have been developed, research focused only on mature consumers and is rather limited in offering alternative explanations for the evocation of nostalgic feelings. MANCOVA was the primary method used to test hypotheses. Findings of this study indicate that discontinuity does not necessarily lead to nostalgia and preference for nostalgic products varies.
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Date Issued
2010
PURL
http://purl.flvc.org/FAU/2683126
Subject Headings
Consumption (Economics), Social aspects, Consumer behavior, Commercial products, Psychological aspects, Nostalgia, Economic aspects, Material culture, Popular culture
Format
Document (PDF)