skip to content
Visibility bias in the transmission of consumption beliefs and undersaving Preview this item
ClosePreview this item
Checking...

Visibility bias in the transmission of consumption beliefs and undersaving

Author: Bing Han; David Hirshleifer; Johan Walden; National Bureau of Economic Research,
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2019.
Series: Working paper series (National Bureau of Economic Research), no. 25566.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
We study how bias in the social transmission process affects contagion of consumption beliefs and behavior. In the model, consumption is more salient than non-consumption. This visibility bias causes people to perceive that others are consuming heavily and have favorable information about future wealth prospects. These inferences increase aggregate consumption. In contrast with other approaches, the visibility bias  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Bing Han; David Hirshleifer; Johan Walden; National Bureau of Economic Research,
OCLC Number: 1088564019
Notes: "February 2019"
Description: 1 online resource (62 pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 25566.
Responsibility: Bing Han, David Hirshleifer, Johan Walden.

Abstract:

We study how bias in the social transmission process affects contagion of consumption beliefs and behavior. In the model, consumption is more salient than non-consumption. This visibility bias causes people to perceive that others are consuming heavily and have favorable information about future wealth prospects. These inferences increase aggregate consumption. In contrast with other approaches, the visibility bias approach suggests that relatively simple disclosure policy interventions can ameliorate undersaving. In contrast with the Veblen wealth-signaling approach, information asymmetry about wealth reduces overconsumption. Our approach offers new implications about the effects on saving of social connectedness, observation biases, and demographic structure; and offers a novel explanation for the dramatic drop in the savings rate in the US and several other countries in the last thirty years.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1088564019> # Visibility bias in the transmission of consumption beliefs and undersaving
    a schema:CreativeWork, schema:MediaObject, schema:Book ;
    library:oclcnum "1088564019" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/8948575153#Topic/retirement_planning_econometric_models> ; # Retirement--Planning--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/8948575153#Topic/retirement_united_states_planning_econometric_models> ; # Retirement--United States--Planning--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/8948575153#Topic/consumption_economics_social_aspects_united_states_econometric_models> ; # Consumption (Economics)--Social aspects--United States--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/8948575153#Topic/saving_and_investment_social_aspects_united_states_econometric_models> ; # Saving and investment--Social aspects--United States--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/8948575153#Place/united_states> ; # United States.
    schema:author <http://experiment.worldcat.org/entity/work/data/8948575153#Person/han_bing_1970> ; # Bing Han
    schema:author <http://experiment.worldcat.org/entity/work/data/8948575153#Person/hirshleifer_david_1958> ; # David Hirshleifer
    schema:author <http://experiment.worldcat.org/entity/work/data/8948575153#Person/walden_johan> ; # Johan Walden
    schema:bookFormat schema:EBook ;
    schema:datePublished "2019" ;
    schema:description "We study how bias in the social transmission process affects contagion of consumption beliefs and behavior. In the model, consumption is more salient than non-consumption. This visibility bias causes people to perceive that others are consuming heavily and have favorable information about future wealth prospects. These inferences increase aggregate consumption. In contrast with other approaches, the visibility bias approach suggests that relatively simple disclosure policy interventions can ameliorate undersaving. In contrast with the Veblen wealth-signaling approach, information asymmetry about wealth reduces overconsumption. Our approach offers new implications about the effects on saving of social connectedness, observation biases, and demographic structure; and offers a novel explanation for the dramatic drop in the savings rate in the US and several other countries in the last thirty years."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/8948575153> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/8948575153#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/8948575153#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:name "Visibility bias in the transmission of consumption beliefs and undersaving"@en ;
    schema:productID "1088564019" ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/8948575153#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research,
    schema:url <http://www.nber.org/papers/w25566> ;
    schema:url <http://papers.nber.org/papers/25566> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1088564019> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/8948575153#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research,
    a schema:Organization ;
    schema:name "National Bureau of Economic Research," ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Person/han_bing_1970> # Bing Han
    a schema:Person ;
    schema:birthDate "1970" ;
    schema:familyName "Han" ;
    schema:givenName "Bing" ;
    schema:name "Bing Han" ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Person/hirshleifer_david_1958> # David Hirshleifer
    a schema:Person ;
    schema:birthDate "1958" ;
    schema:familyName "Hirshleifer" ;
    schema:givenName "David" ;
    schema:name "David Hirshleifer" ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Person/walden_johan> # Johan Walden
    a schema:Person ;
    schema:familyName "Walden" ;
    schema:givenName "Johan" ;
    schema:name "Johan Walden" ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Place/united_states> # United States.
    a schema:Place ;
    schema:name "United States." ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1088564019> ; # Visibility bias in the transmission of consumption beliefs and undersaving
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1088564019> ; # Visibility bias in the transmission of consumption beliefs and undersaving
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Topic/consumption_economics_social_aspects_united_states_econometric_models> # Consumption (Economics)--Social aspects--United States--Econometric models
    a schema:Intangible ;
    schema:name "Consumption (Economics)--Social aspects--United States--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Topic/retirement_planning_econometric_models> # Retirement--Planning--Econometric models
    a schema:Intangible ;
    schema:name "Retirement--Planning--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Topic/retirement_united_states_planning_econometric_models> # Retirement--United States--Planning--Econometric models
    a schema:Intangible ;
    schema:name "Retirement--United States--Planning--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/8948575153#Topic/saving_and_investment_social_aspects_united_states_econometric_models> # Saving and investment--Social aspects--United States--Econometric models
    a schema:Intangible ;
    schema:name "Saving and investment--Social aspects--United States--Econometric models"@en ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.