Economic Decisions in the Private Household

Authored by: Erich Kirchler , Eva Hofmann

Handbook of Contemporary Behavioral Economics

Print publication date:  July  2006
Online publication date:  January  2015

Print ISBN: 9780765613028
eBook ISBN: 9781315703879
Adobe ISBN: 9781317469162


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Knowledge of economic decisions is of importance to the economy, which is driven and perpetuated by consumers’ decisions and actions. In this context, economic decisions in private households are especially of interest. These decisions take place in between the antagonists reasonableness and emotion and are investigated by sociologists, social psychologists, economic psychologists, economists, and consumer researchers. Research concentrates mainly on the dynamics and outcomes of spouses’ disagreements about expenditures and savings as well as wealth and monetary management in the family. Researchers try to determine who prevails in disagreements, who decides in which situation, and which partner is influencing the other and how it is done.

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