Carbone, Enrica; Duffy, John - In: Journal of Economic Behavior & Organization 106 (2014) C, pp. 413-427
, intertemporal lifecycle consumption optimization problem and the effect of revealing social information on past average consumption … in solving for the optimal consumption path. Instead, we find that the provision of social information on past average … levels of consumption results in a greater deviation of consumption from both the unconditional and the conditionally optimal …