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I - Income and Willingness to Purchase Durables, by François Gardes, Jean-Loup Madre. From two surveys taken one year apart on the same household we derive models of income expectations on the basis of financial standing or household savings. Dummy variables and logit techniques give almost the same split of households having correctly forecast the evolution of their income, those who underestimated it and those who overestimated it. This transitory income developed therefrom proves to have a strong effect on car purchases. The consistency of answers to a variety of similar questions and the heterogeneity of households' behaviour with regard to purchasing durable goods and predicting their financial standing are also analyzed.
Gardes et al. (Tue,) studied this question.