000			03104cam a22004337 4500
001			w25566
003			NBER
005			20211020104241.0
006			m o d
007			cr cnu||||||||
008			210910s2019 mau fo 000 0 eng d
100	1		_aHan, Bing. _929467
245	1	0	_aVisibility Bias in the Transmission of Consumption Beliefs and Undersaving / _cBing Han, David Hirshleifer, Johan Walden.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2019.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w25566
500			_aFebruary 2019.
520	3		_aWe model visibility bias in the social transmission of consumption behavior. When consumption is more salient than non-consumption, people perceive that others are consuming heavily, and infer that future prospects are favorable. This increases aggregate consumption in a positive feedback loop. A distinctive implication is that disclosure policy interventions can ameliorate undersaving. In contrast with wealth-signaling models, information asymmetry about wealth reduces overconsumption. The model predicts that saving is influenced by social connectedness, observation biases, and demographic structure; and provides a novel explanation for the dramatic drop in savings rates in the US and several other countries in recent decades.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aD14 - Household Saving • Personal Finance _2Journal of Economic Literature class.
690		7	_aD83 - Search • Learning • Information and Knowledge • Communication • Belief • Unawareness _2Journal of Economic Literature class.
690		7	_aD84 - Expectations • Speculations _2Journal of Economic Literature class.
690		7	_aD85 - Network Formation and Analysis: Theory _2Journal of Economic Literature class.
690		7	_aD9 - Micro-Based Behavioral Economics _2Journal of Economic Literature class.
690		7	_aD91 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making _2Journal of Economic Literature class.
690		7	_aG02 - Behavioral Finance: Underlying Principles _2Journal of Economic Literature class.
690		7	_aG11 - Portfolio Choice • Investment Decisions _2Journal of Economic Literature class.
690		7	_aG41 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets _2Journal of Economic Literature class.
700	1		_aHirshleifer, David. _912870
700	1		_aWalden, Johan.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w25566.
856	4	0	_uhttps://www.nber.org/papers/w25566
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w25566
942			_2ddc _cW-PAPER
999			_c322556 _d281118