Consumer Economic Wellbeing by Jing Jian Xiao

By Jing Jian Xiao

This booklet makes a speciality of the advance of suitable theories and ideas that reduction in predicting and editing customer behaviors. buyer behaviors that aid enhance overall healthiness, akin to incomes, spending, borrowing, and saving also are coated. additionally, the ebook discusses how to find shopper rights and obligations, and the way person shoppers are geared up to guard their very own pursuits and to voice their issues in public determination making methods. eventually, the e-book covers results of financial environments on shopper health and the way shoppers can successfully care for those challenges.

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Deaton, A. (2010). High income improves evaluation of life but not emotional well-being. Proceedings of the National Academy of Sciences, 107(38), 16489–16493. , & Krueger, A. B. (2006). Developments in the measurement of subjective wellbeing. Journal of Economic Perspectives, 20(1), 3–24. Komlos, J. (1995). The biological standard of living on three continents: Further exploration in anthropometric history. Boulder, CO: Westview. Krueger, A. B. ). (2009). Measuring the subjective well-being of nations: National accounts of time use and well-being.

J. 1007/978-1-4939-2821-7_2 23 24 2 Consumer Interests and Economic Wellbeing consumers may have different, sometimes conflicting interests; and individual consumers may have multiple, conflicting interests. However, they believe using consumer interest is helpful in four situations: when consumers obtain necessities; when consumers get best values from their money through purchases; when market process is improved by competition, representation, information, and redress; and when consumer interests are contrasted with other interests, such as corporate interests, labor interests, and environmental interests.

Second, consumer preferences are not always consistent with universal values such as taking out an auto loan but actually being unable to afford it. Third, there are trade-offs among the universal values such as high safety being related to less accessibility. Forth, universal values vary depending on the needs of individual and groups of consumers. Affordability is more important for a low-income consumer but safety is more important for a middle-income consumer. Finally, university values related to products may conflict with other societal values (raising speed limits to increase transportation efficiency tends to diminish auto safety).

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