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Income, Saving, and the Theory of Consumer Behavior
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The article was published on 1949-01-01 and is currently open access. It has received 2738 citations till now. The article focuses on the topics: Permanent income hypothesis & Marginal propensity to save.read more
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Income Inequality and Saving
TL;DR: The authors found that when households care about their consumption relative to others, individual saving rates decrease with reference income while aggregate saving decreases with income inequality, and provided evidence from the PSID and a panel of OECD countries consistent with these predictions.
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Consumption expenditures and subjective well-being: empirical evidence from Germany
Heinz-Herbert Noll,Stefan Weick +1 more
TL;DR: In this paper, the authors focus on the empirical analysis of how and to what extent subjective well-being (SWB) is affected by the level and structure of consumption expenditures in German households.
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Do Individuals Try To Maximize General Satisfaction
TL;DR: In this paper, the authors investigate the relationship between intentions, actions, importance weights, and satisfaction levels of individuals and test these predictions on a Russian and a German panel data set.
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The wealth distribution and the demand for status
Yulei Luo,Eric R. Young +1 more
TL;DR: This article examined the effect of soc preferences on inequality in wealth and found that placing wealth into the utility function leads to a shrinking wealth distribution, but no parametrization leads to higher wealth Gini coefficients than the benchmark case.
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Left Behind: Creative Destruction, Inequality, and the Stock Market
TL;DR: The authors developed a general equilibrium model of asset prices in which benefits of technological innovation are distributed asymmetrically, and showed that financial market participants do not capture all economic gains of technological advances.