Abstract
Studies testing Milton Friedman’s permanent income hypothesis have been inconclusive regarding types of expenditures made from windfall income. The present study suggests that while the majority of windfall purchases may be for durable goods, sizable numbers of semidurable and nondurable purchases are also made.
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Rucker, M.H. (2015). Consumer Expenditures from Windfall Income. In: Rogers III, J., Lamb, Jr., C. (eds) Proceedings of the 1983 Academy of Marketing Science (AMS) Annual Conference. Developments in Marketing Science: Proceedings of the Academy of Marketing Science. Springer, Cham. https://doi.org/10.1007/978-3-319-16937-8_25
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DOI: https://doi.org/10.1007/978-3-319-16937-8_25
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