Axiom of the relative income hypothesis and household energy choice and consumption in developing areas: Empirical evidence using Verme model
According to the relative income hypothesis, consumption behavior of households does not depend solely on their absolute income but also relatively on other peoples' income and consumption behavior. Households try to maintain their consumption pattern in such a way to meet the average consumpti...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2018-09-01
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| Series: | Kasetsart Journal of Social Sciences |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2452315118303485 |