scholarly journals Bargaining Under Liquidity Constraints: Nash vs. Kalai in the Laboratory

2021 ◽  
Vol 2021 (2113) ◽  
Author(s):  
John Duffy ◽  
◽  
Lucie Lebeau ◽  
Daniela Puzzello ◽  
◽  
...  

Author(s):  
Klaus Wertenbroch ◽  
Dilip Soman ◽  
Joe Nunes






2018 ◽  
Author(s):  
Paul Beaumont ◽  
Clémence Lenoir






2012 ◽  
Vol 22 (10) ◽  
pp. 1177-1198 ◽  
Author(s):  
Patryk Babiarz ◽  
Richard Widdows ◽  
Tansel Yilmazer


Author(s):  
Pengpeng Yue ◽  
Aslihan Gizem Korkmaz ◽  
Zhichao Yin ◽  
Haigang Zhou


Author(s):  
Ana González-Urteaga ◽  
Gonzalo Rubio


2015 ◽  
Vol 60 (05) ◽  
pp. 1550062 ◽  
Author(s):  
JIN XU ◽  
DONGMIN KONG

Using the panel urban households’ aggregate data at the province level in China, this paper attempts to identify the source of the rejection of permanent income hypothesis (PIH) in urban households’ consumption. We introduce liquidity constraints, myopia and loss aversion into testable hypotheses and document that: First, the PIH fails in urban China and the consumption is consistent with the liquidity constraints. Second, in regions with the high and moderate economic levels, the consumption behaviors show liquidity constraints in the early period of market-oriented economic reforms (i.e., 1980s). However, with time, the consumption pattern changed to myopia. Third, in region with low economic level, the reverse is observed: a period of myopia gave way to a period of liquidity constraints. Our results suggest that neither myopia nor liquidity constraints are an adequate characterization of consumption in different regions of urban China, and offer clear policy implications for governments who are concerned with boosting the household income and expanding domestic demand.



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