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Books > Business & Economics > Economics > Microeconomics
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Consumer Expectations - Micro Foundations and Macro Impact (Hardcover)
Loot Price: R3,459
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Consumer Expectations - Micro Foundations and Macro Impact (Hardcover)
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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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