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Propensity to search: common, leisure, and labor models of consumer behavior

Sergey Malakhov

MPRA Paper from University Library of Munich, Germany

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. Some of these combinations result in phenomena of Veblen effect and money illusion. While “the common model” of behavior demonstrates a moderate propensity to search, “leisure” and “labor” models of consumer behavior manifest vigorous propensities to search. The analysis of trends in allocation of time in the USA during last decades assumes that women have followed “common model” of behavior while men have exhibited both “leisure” and “labor” models of behavior.

Keywords: propensity to search; consumption-leisure choice; Veblen effect; money illusion (search for similar items in EconPapers)
JEL-codes: D11 D83 (search for similar items in EconPapers)
Date: 2015-01
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