Behavioral Foundations for the Keynesian Consumption Function

Fabio D'Orlando and Eleonora Sanfilippo
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Eleonora Sanfilippo: University of Cassino

No 2008-05, Working Papers from Universita' di Cassino, Dipartimento di Economia e Giurisprudenza

Abstract: This paper has two main goals. The first is to show that behavioral rather than maximizing principles emerge from textual analysis as the microeconomic foundations for Keynes’s Consumption Theory; the second goal is to demonstrate that it is possible to ground a Keynesian-type aggregate Consumption function on the basis of (some of) the principles underlying contemporary behavioral models

Keywords: Keynes; Behavioral Economics; Keynesian Theory; Consumption; Hyperbolic Discounting; Mental Accounting (search for similar items in EconPapers)
JEL-codes: B22 D01 D11 D91 E12 E21 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2008-05
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Journal Article: Behavioral foundations for the Keynesian consumption function (2010)
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