Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=53124#.VLXQ28nQrzE Author(s) Rebecca Abraham , Charles Harrington Affiliation(s) Huizenga School of Business, Nova Southeastern University, Fort Lauderdale, FL, USA . ABSTRACT This study constructs a consumption profile for the Generation Y age cohort using responses to the Consumer Expenditure Survey furnished by the Bureau of Labor Statistics from the financial crisis period. This generation was theorized to employ both economic reasons, i.e. preferences for inexpensive products, and the desire to comply with the values and normative beliefs of social referent groups. For the rent or buy a home decision, the variability of income, risk of foreclosure and loss of mobility governed the consumption choice. For the purchase a new car or a used car decision, economic considerations dominated with variability of income being the sole explanatory varia...
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