Personal Consumption and Single Persons

2011 ◽  
Vol 22 (2) ◽  
pp. 143-163 ◽  
Author(s):  
Kurt V. Krueger
Keyword(s):  
Economic Loss ◽  
Economic Thought ◽  
Economic Losses ◽  
Consumer Expenditure ◽  
Consumer Expenditure Survey ◽  
Single Person ◽  
Personal Consumption ◽  
Males And Females ◽  
Wage Earners ◽  
Wrongful Death

Abstract After examining the competing perspectives regarding single person consumption, this paper makes an effort to improve the quantification of economic losses in cases involving the wrongful death of single persons. I show a new disaggregation of the Consumer Expenditure Survey microdata source which is then used to calculate various economic loss measures warranted by legal jurisdiction and economic thought. Traditional personal consumption methodology computes economic losses as the decedent's earnings multiplied by one minus a personal consumption rate. This paper adds a new method of computing economic losses as the decedent's earnings multiplied by the percent of survivors' or estate's benefit from those earnings. Significant differences result between the methods and in the personal consumption amounts between males and females and wage-earners and non-wage earners of retirement age. It was also discovered that some single-person maintenance consumption results may be applicable to married persons.

Personal Consumption by Family Type and Household Income

2014 ◽  
Vol 25 (2) ◽  
pp. 203-220 ◽  
Author(s):  
Kurt V. Krueger
Keyword(s):  
Family Type ◽  
Consumer Expenditure ◽  
Empirical Estimation ◽  
Consumer Expenditure Survey ◽  
Expenditure Survey ◽  
Personal Consumption ◽  
Living Together ◽  
Minor Children ◽  
Wage Earning ◽  
Wage Earners

Abstract Using Consumer Expenditure Survey data, this paper presents a unified approach in estimating adult personal consumption across five family types: married wage earners living together by themselves, married wage earners living together with their minor children, married retirees living together by themselves, single wage earning parents living together with their minor children, and single wage earners living alone. In addition to advancing the literature with a unified analysis of family traits, this paper uses over 700 microdata expenditure classifications instead of the approximate 30 summary expenditure classifications which have been relied on in other personal consumption studies. Microdata expenditure classification reduces problems of allocating expenses among family members. The paper begins with an overview of the Consumer Expenditure Survey, the federal data source that is most appropriate for estimating personal consumption. Next presented are the allocation rules to separate personal from survivor and household expenditures. The data are then identified followed by empirical estimation.

Consumer Expenditures and Savings in High Income Households

2018 ◽  
Vol 27 (2) ◽  
pp. 107-125
Author(s):  
Finnie B. Cook ◽  
John Oryema ◽  
Cynthia Stephens
Keyword(s):  
High Income ◽  
Consumer Expenditure ◽  
Academic Literature ◽  
Consumer Expenditure Survey ◽  
Lack Of Information ◽  
Consumer Expenditures ◽  
Labor Statistics ◽  
Wrongful Death ◽  
Bureau Of Labor Statistics

Abstract A review of the existing academic literature as well as available government publications reveals a lack of information regarding expenditure behavior of high income households. In this paper, we combine multiple years of Consumer Expenditure Survey Public Use Microdata provided by the Bureau of Labor Statistics (BLS) and compute average expenditures and standard errors. We apply the same methodology used by the BLS to estimate the average expenditures by household income and household size for households with income of $70,000 and higher. The resultant tables provide details on consumption and saving patterns for higher income groups that are unavailable in the tables published by the BLS. Our tables can be utilized by forensic economists in practice for the determination of consumption and savings values in wrongful death matters in high income households.

Personal Consumption and Single Persons: A Comment

2012 ◽  
Vol 23 (1) ◽  
pp. 33-39 ◽  
Author(s):  
Thomas R. Ireland
Keyword(s):  
Large Majority ◽  
Single Person ◽  
Personal Consumption ◽  
Wrongful Death ◽  
Economic Damages

Abstract Kurt Krueger's paper on “Personal Consumption and Single Persons” (2011) identifies five approaches for determining the amount that should be subtracted from the income of wrongfully killed single persons living in single person households to account for the personal expenses of those single persons when calculating economic damages in wrongful death circumstances. However, none of Krueger's methods are useful in the large majority of states with conventional Wrongful Death Acts. The reason is not flaws in Krueger's calculations, but flaws in Krueger's understanding of what is required in Wrongful Death Actions.

Fertiliser evenness - losses and costs: A study on the economic benefits of uniform applications of fertiliser

1999 ◽  
pp. 215-220 ◽  
Author(s):  
R. Horrell ◽  
A.K. Metherell ◽  
S. Ford ◽  
C. Doscher
Keyword(s):  
Crop Yields ◽  
Cumulative Effect ◽  
Economic Loss ◽  
Economic Benefits ◽  
Significant Loss ◽  
Economic Losses ◽  
Financial Return ◽  
Spread Pattern ◽  
Fertiliser Application ◽  
Seed Crops

Over two million tonnes of fertiliser are applied to New Zealand pastures and crops annually and there is an increasing desire by farmers to ensure that the best possible economic return is gained from this investment. Spreading distribution measurements undertaken by Lincoln Ventures Ltd (LVL) have identified large variations in the evenness of fertiliser application by spreading machines which could lead to a failure to achieve optimum potential in some crop yields and to significant associated economic losses. To quantify these losses, a study was undertaken to calculate the effect of uneven fertiliser application on crop yield. From LVL's spreader database, spread patterns from many machines were categorised by spread pattern type and by coefficient of variation (CV). These patterns were then used to calculate yield losses when they were combined with the response data from five representative cropping and pastoral situations. Nitrogen fertiliser on ryegrass seed crops shows significant production losses at a spread pattern CV between 30% and 40%. For P and S on pasture, the cumulative effect of uneven spreading accrues, until there is significant economic loss occurring by year 3 for both the Waikato dairy and Southland sheep and beef systems at CV values between 30% and 40%. For nitrogen on pasture, significant loss in a dairy system occurs at a CV of approximately 40% whereas for a sheep and beef system it is at a CV of 50%, where the financial return from nitrogen application has been calculated at the average gross revenue of the farming system. The conclusion of this study is that the current Spreadmark standards are a satisfactory basis for defining the evenness requirements of fertiliser applications in most circumstances. On the basis of Spreadmark testing to date, more than 50% of the national commercial spreading fleet fails to meet the standard for nitrogenous fertilisers and 40% fails to meet the standard for phosphatic fertilisers.Keywords: aerial spreading, crop response, economic loss, fertiliser, ground spreading, striping, uneven application, uneven spreading, yield loss

scholarly journals Quantification of PV Power and Economic Losses Due to Soiling in Qatar

2021 ◽  
Vol 13 (6) ◽  
pp. 3364
Author(s):  
Amr Zeedan ◽  
Abdulaziz Barakeh ◽  
Khaled Al-Fakhroo ◽  
Farid Touati ◽  
Antonio S. P. Gonzales
Keyword(s):  
Output Power ◽  
Power Plants ◽  
Economic Loss ◽  
Economic Losses ◽  
Energy Yield ◽  
Solar Pv ◽  
Financial Loss ◽  
Grid Systems ◽  
Dust Density

Soiling losses of photovoltaic (PV) panels due to dust lead to a significant decrease in solar energy yield and result in economic losses; this hence poses critical challenges to the viability of PV in smart grid systems. In this paper, these losses are quantified under Qatar’s harsh environment. This quantification is based on experimental data from long-term measurements of various climatic parameters and the output power of PV panels located in Qatar University’s Solar facility in Doha, Qatar, using a customized measurement and monitoring setup. A data processing algorithm was deliberately developed and applied, which aimed to correlate output power to ambient dust density in the vicinity of PV panels. It was found that, without cleaning, soiling reduced the output power by 43% after six months of exposure to an average ambient dust density of 0.7 mg/m3. The power and economic loss that would result from this power reduction for Qatar’s ongoing solar PV projects has also been estimated. For example, for the Al-Kharasaah project power plant, similar soiling loss would result in about a 10% power decrease after six months for typical ranges of dust density in Qatar’s environment; this, in turn, would result in an 11,000 QAR/h financial loss. This would pose a pressing need to mitigate soiling effects in PV power plants.

scholarly journals The problem of not observing small expenditures in a consumer expenditure survey

1990 ◽  
Vol 5 (2) ◽  
pp. 151-166 ◽  
Author(s):  
Rob Alessie ◽  
Raymond Gradus ◽  
Bertrand Melenberg
Keyword(s):  
Consumer Expenditure ◽  
Consumer Expenditure Survey ◽  
Expenditure Survey

On Analysis Economic Loss Appraisal Method for Geological Disasters

2012 ◽  
Vol 594-597 ◽  
pp. 2272-2276
Author(s):  
Shi Gui Li ◽  
Qing Lin Yi ◽  
Juan Juan Wu
Keyword(s):  
Reference Value ◽  
Economic Loss ◽  
Economic Losses ◽  
Geological Disasters ◽  
Effective Evaluation ◽  
Valuation Method ◽  
Geological Disaster ◽  
Appraisal Method ◽  
Qianjiangping Landslide ◽  
China’S Economy

China is one of the most serious national which does harm to geological disasters, and the geological disasters have effect on China’s economy. Therefore, the effective evaluation for the economic losses caused by geological disasters has some reference value. This paper mainly introduces the geological disaster economic losses structure drawing and evaluated methods which include human capital method, shadow valuation method, market valuation method, investigation appraisal method and coefficient of proportionality method, and analyzes different economic losses should adopt different appraisal method. And take the Qianjiangping landslide for instant, this paper introduces how to evaluate landslide disasters economic loss. The idea and method have certain guiding significance to geological disaster economic losses evaluation.

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