• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

The workout Effect on Consumer Expectations in USA

Student: Zaytsev Aleksey

Supervisor: Olga E. Kuzina

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2016

In this paper, the idea that consumer expectations of the population depend on many socio-demographic characteristics: gender, age, education, income, etc. is analyzed. Special attention is given to the variable "age", as this variable consists of several components, such as individual person's age, i.e. biological characteristics which are unique; the cohorts, i.e. the formation of the experience and the conditions of socialization under certain conditions; the time factor, which appears in the economic, political and social factors in the macro environment. In this paper, we attempt to find the solution of so-called problem of "identification", i.e. the separation of these three components. The solution is that the consumer sentiment index (CSI) displays (in according to the theoretical approaches of Psychological Economics by George. Katona) generalized socio-economic situation in the country, in a determinate historical period. The information base is dataset from the Survey Research Center of the University of Michigan, where systematically performed the poll of the American population for 39 years according to a uniform methodology. The total number of respondents in the cumulative array for 1976-2015 amounted to 236 233 people. Regression analysis demonstrates that the affiliation of an individual to a cohort (with control of other factors and variables) is one of the important characteristics in consumer sentiment. However, the established nonlinear nature of the relationship suggests that an increase of optimism/pessimism in connection with the economic and social development of the country is running non-homogeneously from one cohort to another.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses