The evolution of consumption and its welfare effects

Witt, Ulrich

doi:10.1007/s00191-016-0459-3

Cited by 31 publications

(26 citation statements)

References 45 publications

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“…This proves that income of the consumer is monotonic increasing in obtaining utility and welfare of the consumer as assumed during the construction and deriving of the model from utility function by substituting the Marshallian's Demand Function. The outcome of the study is consistent with the study of (Deaton and Muellbauer, 1986;Chai and Moneta, 2010;Kaus, 2012;and Witt, 2016) found that Engle curve is monotonic increasing in Utility of the consumer.…”

Section: Unit Root Test and Regression Analysis Of The Variablessupporting

confidence: 89%

“…The well-known studies in this regard were (Charles et al, 2009;Bierens and Pott-Buter, 1987;Atkinson et al, 1990;Lewbel, 1991;Blundell et al, 1993;Hilden, 1994;Hausman et al, 1995;and Hardle and Jerison, 1988). Witt (2016) pointed out that the consumer welfare solely depended on the behavior of the consumer choices and preferences towards opportunities of goods. The motivational factors in this regard are the income and prices of the demanded goods.…”

Section: Literature Reviewmentioning

confidence: 99%

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Nexus Between Consumer Welfare and Marshalian’s Demand Function; Evidence From Pakistan

Ali¹,

Rafiq²,

Javed³

2020

PJHSSR

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Consumer welfare and their satisfaction is the primary and basic objective of any government, policy makers and economists. The theory of economics encircles from welfares of the consumers. In this regard, the demand function has persuasive role in determining the welfare through purchasing power. That’s why, the consumer welfare is measured from Marshallian’s demand through Indirect Utility Function during 1980-2017 for Pakistan. The variables are stationary at level and in analytical technique, the NLS and ARMA (Least Regression Analysis) method was operative through econometric views (E-Views) software. The result indicates that income of the consumer has significant and positive effect, while price of goods has significantly negative effect on the consumer welfare and utility in case of Pakistan. Further, the long run association of consumption, income and consumer welfare was found. This study recommends that incremental efforts are required by the government to bring stability in the prices of goods, policies must aim and focus on provision of employment and income generating activities, control of income inequality and minimize income class disparities to maximization welfare of the individuals living in different regions and in societies of Pakistan.

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Section: Unit Root Test and Regression Analysis Of The Variablessupporting

confidence: 89%

Section: Literature Reviewmentioning

confidence: 99%

Nexus Between Consumer Welfare and Marshalian’s Demand Function; Evidence From Pakistan

Ali¹,

Rafiq²,

Javed³

2020

PJHSSR

View full text Add to dashboard Cite

show abstract

“…From the point of view of the household management unit (microeconomic approach), the economic well-being of the individual is primarily equated with the level of consumption and, more specifically, the level of household consumption expenditure (Bartels and Urminsky, 2015;Witt, 2017;Aitken, 2019). Already Sen (1977) suggested focusing on individuals who made up a given society and stressed the need to include in welfare studies the heterogeneity of individuals due to m.in.…”

Section: Economic Welfare and Its Determinantsmentioning

confidence: 99%

Economic Welfare and Subjective Assessments of Financial Situation of European Households

Grzywińska‐Rąpca¹

2021

ERSJ

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Purpose: This work presents a model of the relationship between subjective assessments of the financial situation of domestic households and financial well-being expressed in actual consumption and saving levels. Design/Methodology/Approach: The research was conducted through a detailed analysis of changes in subjective assessments of the financial situation of households in particular periods. Confirmatory factor analysis was used for formal empirical verification. Modeling was preceded by a k-means grouping of European countries and reduced variables by analyzing the main components. Findings: Subjective assessments of household finances are of varying strength but significantly correlated with consumption and saving in different clusters of European countries. The CFA model presented considers the personal effects of countries and explains the volatility of household financial behaviors. Practical implications: One of the new results is that subjective assessments of household finances are of varying strength but significantly correlated with consumption and saving in different concentrations of European countries. The identification of household financial assessment factors was carried out based on a survey covering all European Union countries and the United Kingdom, i.e., 28 countries. Originality/Value: The CFA model presented considers the personal effects of countries and explains the volatility of household financial behavior. Finally, the article contributes to the literature on personal feelings and financial decisions of households.

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“…Urban waste is one of the aspects of this crisis that hampers the sustainability of the planet due to the behavior of production and consumption resulting from economic growth [1]. The consumption of economic agents and the degree of satiety of society drive the supply chain of materials and the development of products with a shorter life cycle [2]. Consequently, increasing waste without proper disposal threatens environmental sustainability [3].…”

Section: Introductionmentioning

confidence: 99%

Modeling the Socioeconomic Metabolism of End-of-Life Tires Using Structural Equations: A Brazilian Case Study

et al. 2020

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Socioeconomic metabolism (SEM) is the exchange of materials and energy between society and the environment involving the social, economic and environmental sectors. In this paper, a boundary was defined between the economic (consumption) and environmental (waste recovery) limits in a city of 300,000 inhabitants in relation to the circulation (generation, reuse and disposal) of end-of-life tires (ELTs). The objective was to elaborate a theoretical structural model to evaluate the socioeconomic metabolism of waste (SEMw) by means of technical constructs (direct material flows (DMF), reverse material flows (RMF), socioeconomic environment (SEF) and sociodemographic factors (SDF)). Structural Equation Modeling (SEMm) was performed using Partial Least Squares Structural Equation Modeling (SmartPLS) software. The results obtained from the hypotheses show the causal relationships between the technical and social constructs and suggest guidelines for supporting the planning and management of urban solid waste in the collection and final disposal of ELTs. The processed information also contributes to the analysis of the city’s socioeconomic scenarios in relation to the disposal of ELTs. One of the hypotheses tested (RMF have a direct effect on SEMw) shows the importance of managing ELTs through the correct final disposal of waste and recycling. SEMw was evaluated from the perception of the local society and it is concluded that it is possible to plan public policies to avoid the formation of waste inventory in the city.

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The evolution of consumption and its welfare effects

Cited by 31 publications

References 45 publications

Nexus Between Consumer Welfare and Marshalian’s Demand Function; Evidence From Pakistan

Nexus Between Consumer Welfare and Marshalian’s Demand Function; Evidence From Pakistan

Economic Welfare and Subjective Assessments of Financial Situation of European Households

Modeling the Socioeconomic Metabolism of End-of-Life Tires Using Structural Equations: A Brazilian Case Study

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