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Consumption (economics)

About: Consumption (economics) is a(n) research topic. Over the lifetime, 52696 publication(s) have been published within this topic receiving 1192960 citation(s). more

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Book ChapterDOI
Abstract: Activity analysis is extended into consumption theory. It is assumed that goods possess, or give rise to, multiple characteristics in fixed proportions and that it is these characteristics, not goods themselves, on which the consumer’s preferences are exercised. more

8,971 citations

Posted Content
Gary S. Becker1Institutions (1)
Abstract: A diverse array of factors may influence both earnings and consumption; however, this work primarily focuses on the impact of investments in human capital upon an individual's potential earnings and psychic income. For this study, investments in human capital include such factors as educational level, on-the-job skills training, health care, migration, and consideration of issues regarding regional prices and income. Taking into account varying cultures and political regimes, the research indicates that economic earnings tend to be positively correlated to education and skill level. Additionally, studies indicate an inverse correlation between education and unemployment. Presents a theoretical overview of the types of human capital and the impact of investment in human capital on earnings and rates of return. Then utilizes empirical data and research to analyze the theoretical issues related to investment in human capital, specifically formal education. Considered are such issues as costs and returns of investments, and social and private gains of individuals. The research compares and contrasts these factors based upon both education and skill level. Areas of future research are identified, including further analysis of issues regarding social gains and differing levels of success across different regions and countries. (AKP) more

7,856 citations

Journal ArticleDOI
Abstract: This paper argues for the recognition of important experiential aspects of consumption. Specifically, a general framework is constructed to represent typical consumer behavior variables. Based on this paradigm, the prevailing information processing model is contrasted with an experiential view that focuses on the symbolic, hedonic, and esthetic nature of consumption. This view regards the consumption experience as a phenomenon directed toward the pursuit of fantasies, feelings, and fun. more

6,401 citations

Posted Content
Deon Filmer1, Lant Pritchett2, Lant Pritchett3Institutions (3)
TL;DR: This work estimates the relationship between household wealth and children’s school enrollment in India by constructing a linear index from asset ownership indicators, using principal-components analysis to derive weights, and shows that this index is robust to the assets included, and produces internally coherent results. more

Abstract: The relationship between household wealth and educational enrollment of children can be estimated without expenditure data. A method for doing so - which uses an index based on household asset ownership indicators - is proposed and defended in this paper. In India, children from the wealthiest households are over 30 percentage points more likely to be in school than those from the poorest households, although this gap varies considerably across states. To estimate the relationship between household wealth and the probability that a child (aged 6 to 14) is enrolled in school, Filmer and Pritchett use National Family Health Survey (NFHS) data collected in Indian states in 1992 and 1993. In developing their estimate Filmer and Pritchett had to overcome a methodological difficulty: The NFHS, modeled closely on the Demographic and Health Surveys, measures neither household income nor consumption expenditures. As a proxy for long-run household wealth, they constructed a linear asset index from a set of asset indicators, using principal components analysis to derive the weights. This asset index is robust, produces internally coherent results, and provides a close correspondence with data on state domestic product and on state level poverty rates. They validate the asset index using data on consumption spending and asset ownership from Indonesia, Nepal, and Pakistan. The asset index has reasonable coherence with current consumption expenditures and, more importantly, works as well as - or better than - traditional expenditure-based measures in predicting enrollment status. The authors find that on average a child from a wealthy household (in the top 20 percent on the asset index developed for this analysis) is 31 percent more likely to be enrolled in school than a child from a poor household (in the bottom 40 percent). This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to inform educational policy. The study was funded by the Bank`s Research Support Budget under the research project Educational Enrollment and Dropout (RPO 682-11). more

4,612 citations

Journal ArticleDOI
Abstract: The rapidly growing world energy use has already raised concerns over supply difficulties, exhaustion of energy resources and heavy environmental impacts (ozone layer depletion, global warming, climate change, etc.). The global contribution from buildings towards energy consumption, both residential and commercial, has steadily increased reaching figures between 20% and 40% in developed countries, and has exceeded the other major sectors: industrial and transportation. Growth in population, increasing demand for building services and comfort levels, together with the rise in time spent inside buildings, assure the upward trend in energy demand will continue in the future. For this reason, energy efficiency in buildings is today a prime objective for energy policy at regional, national and international levels. Among building services, the growth in HVAC systems energy use is particularly significant (50% of building consumption and 20% of total consumption in the USA). This paper analyses available information concerning energy consumption in buildings, and particularly related to HVAC systems. Many questions arise: Is the necessary information available? Which are the main building types? What end uses should be considered in the breakdown? Comparisons between different countries are presented specially for commercial buildings. The case of offices is analysed in deeper detail. more

4,538 citations


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No. of papers in the topic in previous years

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Topic's top 5 most impactful authors

Orazio Attanasio

79 papers, 5.7K citations

Christopher D. Carroll

52 papers, 8.8K citations

Richard Blundell

44 papers, 2.9K citations

Martin Ravallion

42 papers, 4.5K citations

Michael D. Hurd

41 papers, 1.6K citations