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Use of quantitative criteria in the management of personal consumption expenditure: challenges and opportunities

Labour, Employment and Work in New Zealand

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Title Use of quantitative criteria in the management of personal consumption expenditure: challenges and opportunities
 
Creator Taujanskaitė, Kamilė
Milčius, Eugenijus
Dobrovolskienė, Nomeda
 
Description Various non-economic factors, like social, cultural, psychologic and others strongly affect the decision-making related to the management of personal consumption expenditure (PCE) in households and often compromise its efficiency. PCE management tools and methods currently used by households are not helpful either as rational distribution of funds among the purchases is usually out of their scope. Therefore, rational use of resources still remains a challenging task for many households. The goal of this study is to analyse the PCE management process in households and the obstacles preventing its efficiency. Methods used in the article comprise: comparative and critical analysis methods; vector analysis tools. The paper identifies shortcomings of currently used PCE management methods and tools and introduces a system of quantitative criteria enabling objective evaluation of consumption alternatives. The use of quantitative criteria limits the influence of subjective, non-economic factors on consumption-related resource management in households and can positively affect its efficiency. The criteria are justified theoretically and the benefits from their use demonstrated with some practical evidence.
 
Publisher VGTU Press Technika
 
Date 2017-05-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://journals.vgtu.lt/index.php/JBEM/article/view/1217
10.3846/16111699.2017.1327456
 
Source Journal of Business Economics and Management; Vol 18 No 3 (2017); 468-486
2029-4433
1611-1699
 
Language eng
 
Relation https://journals.vgtu.lt/index.php/JBEM/article/view/1217/956
 
Rights http://creativecommons.org/licenses/by/4.0