On the arbitrariness of consumption

We discuss a simple model of choices of joint consumption by a working couple who place maintenance of their marriage (relationship) above all else. Any proposal made by one partner seeking to provide maximal utility to the other so as to preserve the marriage, in the case where preferences of partners are unknown, will be accepted. In this sense consumption is arbitrary. In a concluding section we suggest that while overly simple; this structure may characterize to some degree significant amounts of observed consumption, emphasing how social arrangements and the value placed on them by individuals can impact on observed economic behaviour.

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Year of publication:	2009
Authors:	Whalley, John ; Zhang, Shunming
Publisher:	Munich : Center for Economic Studies and Ifo Institute (CESifo)
Subject:	Konsumtheorie \| Ehe \| Haushaltsökonomik \| Konsuminterdependenz \| Soziale Werte \| Theorie \| Values \| Preferences \| lexicographic \| relationship \| partners

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Series:	CESifo Working Paper ; 2566
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	592903583 [GVK] hdl:10419/26611 [Handle]
Classification:	A10 - General Economics. General ; A12 - Relation of Economics to Other Disciplines ; A13 - Relation of Economics to Social Values ; C50 - Econometric Modeling. General ; D01 - Microeconomic Behavior: Underlying Principles
Source:	EconStor

Persistent link: https://www.econbiz.de/10010264574