Life cycle theories of savings and consumption are the economics theories explaining the changes in saving and consumption in the subsequent phases of the human life cycle. There are two main approaches: (1) indicating the dependence of the level of savings and consumption on the average level of income over a long period of human life (life cycle hypothesis; LCH) or (2) on psychological factors, in particular self-control and willpower, mental accounting, and framing effect (behavioral life cycle hypothesis; BLCH).
Authors
Additional information
- DOI
- Digital Object Identifier link open in new tab 10.1007/978-3-319-69892-2
- Category
- Publikacja monograficzna
- Type
- rozdział, artykuł w książce - dziele zbiorowym /podręczniku w języku o zasięgu międzynarodowym
- Language
- angielski
- Publication year
- 2019
Source: MOSTWiedzy.pl - publication "Life cycle theories of savings and consumption" link open in new tab
