Theoretical and practical view of development and differences in the application of productive consumption components in Czech and Slovak households under current economic conditions

Institute of Technology and Business in České Budějovice, School of Expertness and Valuation, Okružní 517/10, 37001 České Budějovice, Czech Republic

^* Corresponding author: psarska.m@gmail.com

Abstract

The aim of the contribution is to point out the possible causes of changes and differences in the behavior of current households in the context of new consumption theories and current conditions by means of selected categories of net cash expenditure of households2 embodying the productive aspect of consumption. The monitored data is based primarily on Family Account Statistics for the period of 2010-2017. The benefit of this contribution is in particular the application and clarification of the links between the current theories and practice which helps to understand the economic behavior of households. The conclusions of the article point out that household decision-making is largely influenced by the economic situation of households, but also by other factors which we also deal with in the contribution. It is clear from the conclusions that Czech and Slovak households apply a different approach to expenditures on productive components of consumption, which in the long run will deepen the differences between countries. In the context of the evolving direction of the Behavioral Economy, it would be helpful to include the monitoring of psychological factors in Family Account Statistics.