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Do Consumers Learn from Their Own Experiences
| Content Provider | Semantic Scholar |
|---|---|
| Author | Tokuoka, Kiichi |
| Copyright Year | 2015 |
| Abstract | type="main"> It is natural to think that a household may learn from its own experiences and subsequently increase savings. This paper tests empirically the hypothesis that Japanese households learn from their experiences of large expenditure and increase their targets for precautionary savings after such experiences. The results imply that households raise their targets for precautionary savings by 4–5 percent of annual income in response to such experiences. Moreover, data are consistent with the argument that targets for savings affect actual savings. Assuming this holds, the results in this paper suggest that consumers may increase their actual savings following large expenditure. |
| Starting Page | 466 |
| Ending Page | 491 |
| Page Count | 26 |
| File Format | PDF HTM / HTML |
| DOI | 10.1111/jere.12062 |
| Volume Number | 66 |
| Alternate Webpage(s) | http://www.cirje.e.u-tokyo.ac.jp/research/workshops/macro/macropaper12/macro0611.pdf |
| Alternate Webpage(s) | https://doi.org/10.1111/jere.12062 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
