Consumer expectations: micro foundations and macro impact

by Curtin, Richard T.

Type Book

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Title Statements

Full title :Consumer expectations : micro foundations and macro impact / Richard Thomas Curtin.

Summary

Richard Curtin has directed the University of Michigan's consumer sentiment surveys for more than four decades. His analyses of recent trends in consumer expectations are regularly covered in the worldwide press. In this book, Curtin presents a new theory of expectations. Whereas conventional theories presume that consumers play a passive role in the macro economy, simply reacting to current trends in incomes, prices, and interest rates, Curtin proposes a new empirically consistent theory. He argues that expectations are formed by an automatic process that utilizes conscious and nonconscious processes, passion and reason, information from public and private sources, and social networks. Consumers ultimately reach a decision that serves both the micro decision needs of individuals and reflects the common influence of the macro environment. Drawing on empirical observations, Curtin not only demonstrates the importance of consumer sentiment, but also how it can foreshadow the cyclical turning points in the economy.

Edition Statements

Publication Date:2019

Publication Statements

Language:eng
Publication Date:2019

The Physical Object

Description:XIX, 343 Seiten : : Illustrationen

Edition Identifiers

ISBN:9781107004696, 1107004691, 9780521181136, 0521181135
oclc:on1091063954

Subjects

Consommateurs -- Comportement Consumer behavior Consumers Erwartung Erwartungsbildung Makroökonomie Marketing Verbraucher Verbraucherforschung Verbraucherverhalten