Good news, bad news, consumer sentiment and consumption behavior

被引：39

作者：

Viet Hoang Nguyen ^{[1
]}

Claus, Edda ^{[1
,2
]}

机构：

[1] Univ Melbourne, Melbourne, Vic 3010, Australia

[2] Australian Natl Univ, CAMA, Canberra, ACT 0200, Australia

来源：

JOURNAL OF ECONOMIC PSYCHOLOGY | 2013年 / 39卷

关键词：

News; Consumer sentiment; Consumption; Negativity bias; NEGATIVITY; CONFIDENCE; EXPECTATIONS; INFORMATION; RECESSION;

D O I：

10.1016/j.joep.2013.10.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We explore the reaction of heterogenous consumers to a range of financial and economic news and find asymmetry in the response to news where consumers react to bad news but. not to good news. This asymmetry holds uniformly across heterogeneous consumer groups and is consistent with the popular negativity bias in psychology. We find asymmetric mapping from news to consumer sentiment and from consumer sentiment to aggregate consumption that supports the notion of asymmetric consumption behavior. (C) 2013 Elsevier B.V. All rights reserved.

引用

页码：426 / 438

页数：13

共 30 条

[1] CONSUMER CONFIDENCE AND RATIONAL-EXPECTATIONS - ARE AGENTS BELIEFS CONSISTENT WITH THE THEORY
ACEMOGLU, D
SCOTT, A
[J]. ECONOMIC JOURNAL, 1994, 104 (422) : 1 - 19
[2] Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence
Barsky, Robert B.
Sims, Eric R.
[J]. AMERICAN ECONOMIC REVIEW, 2012, 102 (04) : 1343 - 1377
[3] Baumeister R. F., 2001, Review of General Psychology, V5, P323, DOI [DOI 10.1037/1089-2680.5.4.323, DOI 10.1037//1089-2680.5.4.323, 10.1037//1089-2680.5.4.323]
[4] BLANCHARD O, 1993, AM ECON REV, V83, P270
[5] VOTER RESPONSE TO SHORT-RUN ECONOMIC CONDITIONS - ASYMMETRIC EFFECT OF PROSPERITY AND RECESSION
BLOOM, HS
PRICE, HD
[J]. AMERICAN POLITICAL SCIENCE REVIEW, 1975, 69 (04) : 1240 - 1254
[6] Bryant A.W. D., 2005, Journal of Economics and Finance, V29, P97, DOI [10.1007/bf02761545, DOI 10.1007/BF02761545]
[7] CARROLL CD, 1994, AM ECON REV, V84, P1397
[8] Casey G. P., 2012, SOCIAL SCI Q
[9] Can Consumer Sentiment and its Components Forecast Australian GDP and Consumption?
Chua, Chew Lian
Tsiaplias, Sarantis
[J]. JOURNAL OF FORECASTING, 2009, 28 (08) : 698 - 711
[10] Cochrane JH., 1994, CARNEGIE-ROCHESTER C, V41, P295, DOI [10.1016/0167- 2231(94)00024-7, DOI 10.1016/0167-2231(94)00024-7, 10.1016/0167-2231(94)00024-7]

← 1 2 3 →