Propensity to Search: Common, Leisure, and Labor Models of Consumer Behavior

Sergey Malakhov

Expert Journal of Economics, 2015, vol. 3, issue 1, 63-76

Abstract: The analysis of the propensity to search specifies the "common" or the ordinary model of consumer behavior based on the synthesis of the neoclassical approach with satisficing concept, and "leisure" and "labor" models of behavior that represent different combinations of conspicuous consumption, leisure, and labor. While the "common model" of behavior demonstrates a moderate propensity to search, "leisure" and "labor" models of consumer behavior exhibit vigorous propensities to search that results in purchase of unnecessary items and therefore in overconsumption. This trend is also presented in home production where vigorous propensity to search takes the form of the vigorous propensity to produce at home. The analysis of trends in allocation of time provides grounds for the assumption that men have more accentuated propensity to search and to produce at home than women that results in overconsumption of unnecessary items.

Keywords: propensity to search; propensity to produce at home; consumption-leisure choice; Veblen effect (search for similar items in EconPapers)
JEL-codes: D11 D83 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (11)

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