Two-stage budgeting as an economic decision-making process for Spanish consumers

Article Abstract:

The two-stage budgeting process was applied as an economic decision making process on the Spanish economy from 1964 to 1992. Through the use of the revealed preference theory, Spanish consumer behavior is shown to be consistent with the utility maximization hypothesis. Data estimated through an Almost Ideal Demand System show all goods to be normal with decreasing demands. The first stage reveals that transport elasticity has the highest value while the second stage shows the elasticity of the purchase of personal vehicles to be the highest. Public transport, however, is the most inelastic.

Economics, Research and Development in the Social Sciences and Humanities, Models, Spain, Demand (Economics), Elasticity (Economics)

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So, how long have you been in the market? The effect of the timing of observation on purchase

Article Abstract:

The purchasing decision-making process of consumers was investigated through an analysis of automobile purchase survey data. It was assumed that propective car buyers already possess information about their intended acquisitions and are in various stages of their deliberation process. The significance of the period or duration of the deliberation process was emphasized. Other major factors in the deliberation process were the buyers who will trade-in a vehicle and those who will not, and a distinction between completely new buyers and buyers who were knowledgeable about the market.

Purchasing, Consumers

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Product safety and managerial decisions: editor's introduction

Article Abstract:

The scope covered by product safety regulations has widened to include not only child-protection, but also consumer protection as well. Product safety thus became an important component of management decision-making since non-compliance can lead to costly litigations that may even cause company closure through bankruptcy or the complete elimination of their business activities. Regulation policy and managerial decision makers, however, still have to integrate another component that inform product safety: consumer behavior.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Product Safety Regulation NEC, Management Policy & Goals, Production Mgmt NEC, Decision-making, Decision making, Management, Planning, Product safety, Production management, Safety regulations, Strategic planning (Business), Goal setting

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