Consumer Expectations

Download or Read eBook Consumer Expectations PDF written by Richard Thomas Curtin and published by Cambridge University Press. This book was released on 2019-02-07 with total page pages. Available in PDF, EPUB and Kindle.
Consumer Expectations
Author :
Publisher : Cambridge University Press
Total Pages :
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ISBN-10 : 9781108576932
ISBN-13 : 1108576931
Rating : 4/5 (32 Downloads)

Book Synopsis Consumer Expectations by : Richard Thomas Curtin

Book excerpt: 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.


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