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| Author: | Easterlin, R. A. |
| Title: | Life cycle welfare: evidence and conjecture |
| Journal: | Journal of Socio-Economics
2001 : VOL. 30:1, p. 31-61 |
| Index terms: | CONSUMER RESEARCH CONSUMER EXPECTATIONS CONSUMER BEHAVIOUR CONSUMER ECONOMICS CONSUMPTION LIFE CYCLES LIFE CYCLE INCOME |
| Language: | eng |
| Abstract: | At a point in time aspirations vary fairly little by income level: over the life cycle, aspirations increase about in proportion to income. These shifts in aspirations also affect assessments of past and future wel-being in such a way that the choices underlying behaviour (decision utility) turn out not to have their expected welfare effects (experienced utility). |
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