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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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Marginal to the Revolution: The Curious Relationship between Economics and the Behavioral Sciences Movement in Mid-Twentieth-Century America
Jefferson Pooley,Mark Solovey +1 more
TL;DR: The nature of economic theory [is] what, basically, keeps Economics aloof from the Behavioral Sciences as mentioned in this paper, and it has rather effectively isolated the entire field from other areas of social investigation.
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Exploring the Absolutist Vs Relativist Perception of Poverty Using a Cross-Country Questionnaire Survey
TL;DR: The authors found that the perception of poverty expressed by a large fraction of respondents exhibits both absolutist and relativist concerns, with the former components prevailing over the latter, while high-income countries exhibit a significantly more pronounced relativist attitude.
Journal Article
An optimizing model for monetary policy analysis : can habit formation help?
TL;DR: This article examined a specifical-ternative consumption model in which consumers' utility depends in part on current consumption relative to past consumption, and showed that no habit formation is possible with tremendous confidence.
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Grading in Games of Status: Marking Exams and Setting Wages
TL;DR: In this article, a game of status is applied to grading exams, and it is shown that if students care primarily about their status (relative rank) in class, they are often best motivated to work not by revealing their exact numerical exam scores (100,99,...,1), but instead by clumping them into coarse categories (A,B,C).
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The Historical Development Of Hierarchical Behavior In Economic Thought
TL;DR: One of the basic ideas underlying the established conception of rational behavior is the unlimited substitutability of preferences as discussed by the authors, where economic agents are assumed to compare and reduce everything to a common denominator: utility.