Cohort Effect
Mario Almonte
Consumer Behavior
Practice Problems
April 13, 2014
Consumer Decisions
Introduction:
The objective of this paper is to explain my perception regarding prices compared to value, and how my perception differs from my parents and grandparents. It is said that Researchers attribute such differences to cohort effects, which are based on the premise that consumption patterns are determined early in life. Therefore, individuals who experienced different economic, political, and cultural environments during their youth are likely to be different types of consumers as adults.
Describe instances in which your parents or grandparents disagreed with or criticized purchases you have made.
Growing up as a child I was involved in video games. Today I no longer have the time to indulge in these activities, and I tend to miss these activities from time to time. I have never lived with my grandparents, and they have not been around much, so to give an opinion regarding their reaction is very limiting. I grew up with a single mother of 3 and playing video games was a way to kill time while my mom was not home and working. The money I was given, I spent it on video games and my mother told me I should had focused on saving instead of spending.
Describe the views that explain each party’s position during these disagreements?
As a child I did not know the value of saving but today I regret it big time. Even though inflation is a problem and the value of the dollar decreases over time, if I would had saved my money and invested it in assets that appreciate over time, I probably would had been a different person today. My position was to play and have fun, and my mom’s position was to learn how to save. My perception regarding value is that I spent my money on things that today are a thing of that past and not my present. Today I focus mostly on learning about assets, saving and investing.
Consumer Behavior
Practice Problems
April 13, 2014
Consumer Decisions
Introduction:
The objective of this paper is to explain my perception regarding prices compared to value, and how my perception differs from my parents and grandparents. It is said that Researchers attribute such differences to cohort effects, which are based on the premise that consumption patterns are determined early in life. Therefore, individuals who experienced different economic, political, and cultural environments during their youth are likely to be different types of consumers as adults.
Describe instances in which your parents or grandparents disagreed with or criticized purchases you have made.
Growing up as a child I was involved in video games. Today I no longer have the time to indulge in these activities, and I tend to miss these activities from time to time. I have never lived with my grandparents, and they have not been around much, so to give an opinion regarding their reaction is very limiting. I grew up with a single mother of 3 and playing video games was a way to kill time while my mom was not home and working. The money I was given, I spent it on video games and my mother told me I should had focused on saving instead of spending.
Describe the views that explain each party’s position during these disagreements?
As a child I did not know the value of saving but today I regret it big time. Even though inflation is a problem and the value of the dollar decreases over time, if I would had saved my money and invested it in assets that appreciate over time, I probably would had been a different person today. My position was to play and have fun, and my mom’s position was to learn how to save. My perception regarding value is that I spent my money on things that today are a thing of that past and not my present. Today I focus mostly on learning about assets, saving and investing.