Preferences, behavior and needs

Detalhes bibliográficos
Autor(a) principal: Silva, Duarte Gonçalves Dias da
Data de Publicação: 2016
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/12334
Resumo: That demand patterns change with income something that can be inferred even in casual observation. Additionally, empirical research has underlined the nonlinearity of the relationship between income and demand described by Engel curves, with these nonlinearities appearing particularly robust for some expenditure categories. However, if demand-system estimation models have undergone significant development to be able to account for these patterns, theoretical explanations are still lagging. This work fills the gap by providing modeling structures aimed at explaining the nonlinearity of the relationship between income and demand. In the two chapters, insights are drawn from psychology to embed preferences within an ordered-needs framework. The first of them introduces a general class of ordered non-homothetic preferences grounded on need satiation which allows for ordered and varying demand-income elasticities. The second proposes to combine ordered needs with path dependence by letting preferences adjust according to differential satiation. These models’ ability to qualitatively reproduce nonlinear Engel curves suggest need satiation and ordered preferences might be important factors at play to explain this phenomenon
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spelling Preferences, behavior and needsPreferencesNeedsIncome elasticityEngel curveDemand theoryTeoria da escolha racionalPreferência do consumidor -- Consumer preferenceThat demand patterns change with income something that can be inferred even in casual observation. Additionally, empirical research has underlined the nonlinearity of the relationship between income and demand described by Engel curves, with these nonlinearities appearing particularly robust for some expenditure categories. However, if demand-system estimation models have undergone significant development to be able to account for these patterns, theoretical explanations are still lagging. This work fills the gap by providing modeling structures aimed at explaining the nonlinearity of the relationship between income and demand. In the two chapters, insights are drawn from psychology to embed preferences within an ordered-needs framework. The first of them introduces a general class of ordered non-homothetic preferences grounded on need satiation which allows for ordered and varying demand-income elasticities. The second proposes to combine ordered needs with path dependence by letting preferences adjust according to differential satiation. These models’ ability to qualitatively reproduce nonlinear Engel curves suggest need satiation and ordered preferences might be important factors at play to explain this phenomenonQue os padrões de consumo se alteram com o rendimento é algo manifesto. Ademais, a evidência empírica tem sublinhado a não-linearidade da relação entre rendimento e procura descrita pelas curvas de Engel, sendo estas não-linearidades particularmente robustas para algumas categorias de despesa. Contudo, se os modelos de estimação de sistemas de procura mostraram um forte desenvolvimento para serem capazes de detalhar estes padrões, a teoria tarda em explicá-los. Este trabalho cobre esta lacuna ao apresentar estruturas visando a explicação das relação não-linear entre rendimento e procura. Nos dois capítulos, teses da psicologia são utilizados para incorporar as relações de preferências numa estrutura de necessidades ordenadas. O primeiro introduz uma classe geral de preferências não-homotéticas ordenadas baseada na satisfação de necessidades que permite elasticidades-rendimento da procura ordenadas e variando com o rendimento. O segundo propõe juntar necessidades ordenadas com dependência temporal ao permitir que as preferências se alterem mediante a saciedade marginal. A capacidade destes modelos em reproduzir qualitativamente curvas de Engel não-lineares sugere que satisfação de necessidades e preferências ordenadas podem ser factores relevantes para explicar este fenómeno.2017-01-11T18:04:54Z2016-01-01T00:00:00Z20162016-06info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10071/12334TID:201200732engSilva, Duarte Gonçalves Dias dainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-02-18T01:16:50Zoai:repositorio.iscte-iul.pt:10071/12334Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:29:17.861747Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Preferences, behavior and needs
title Preferences, behavior and needs
spellingShingle Preferences, behavior and needs
Silva, Duarte Gonçalves Dias da
Preferences
Needs
Income elasticity
Engel curve
Demand theory
Teoria da escolha racional
Preferência do consumidor -- Consumer preference
title_short Preferences, behavior and needs
title_full Preferences, behavior and needs
title_fullStr Preferences, behavior and needs
title_full_unstemmed Preferences, behavior and needs
title_sort Preferences, behavior and needs
author Silva, Duarte Gonçalves Dias da
author_facet Silva, Duarte Gonçalves Dias da
author_role author
dc.contributor.author.fl_str_mv Silva, Duarte Gonçalves Dias da
dc.subject.por.fl_str_mv Preferences
Needs
Income elasticity
Engel curve
Demand theory
Teoria da escolha racional
Preferência do consumidor -- Consumer preference
topic Preferences
Needs
Income elasticity
Engel curve
Demand theory
Teoria da escolha racional
Preferência do consumidor -- Consumer preference
description That demand patterns change with income something that can be inferred even in casual observation. Additionally, empirical research has underlined the nonlinearity of the relationship between income and demand described by Engel curves, with these nonlinearities appearing particularly robust for some expenditure categories. However, if demand-system estimation models have undergone significant development to be able to account for these patterns, theoretical explanations are still lagging. This work fills the gap by providing modeling structures aimed at explaining the nonlinearity of the relationship between income and demand. In the two chapters, insights are drawn from psychology to embed preferences within an ordered-needs framework. The first of them introduces a general class of ordered non-homothetic preferences grounded on need satiation which allows for ordered and varying demand-income elasticities. The second proposes to combine ordered needs with path dependence by letting preferences adjust according to differential satiation. These models’ ability to qualitatively reproduce nonlinear Engel curves suggest need satiation and ordered preferences might be important factors at play to explain this phenomenon
publishDate 2016
dc.date.none.fl_str_mv 2016-01-01T00:00:00Z
2016
2016-06
2017-01-11T18:04:54Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/12334
TID:201200732
url http://hdl.handle.net/10071/12334
identifier_str_mv TID:201200732
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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