Browsing College of Arts and Science by Subject "consumption"

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    • Overconfidence and Consumption over the Life Cycle' 
      Caliendo, Frank; Huang, Kevin X.D. (Vanderbilt University, 2007)
      Overconfidence is a widely documented phenomenon. In this paper, we study the implications of consumer overconfidence in a life-cycle consumption/saving model. Our main analytical result is a necessary and sufficient ...
    • Rationalizing Seven Consumption-Saving Puzzles in a Unified Framework' 
      Huang, Kevin X.D.; Caliendo, Frank (Vanderbilt University, 2007)
      Empirical evidence suggests that it may cost time, effort, and resources to properly implement a saving plan, though such cost may differ across individual consumers. We document seven facts on macroeconomic consumption ...