{"id":"https://openalex.org/W2000505865","doi":"https://doi.org/10.1016/j.jeconbus.2009.12.002","title":"Internal vs. external habit formation: The relative importance for asset pricing","display_name":"Internal vs. external habit formation: The relative importance for asset pricing","publication_year":2010,"publication_date":"2010-01-15","ids":{"openalex":"https://openalex.org/W2000505865","doi":"https://doi.org/10.1016/j.jeconbus.2009.12.002","mag":"2000505865"},"language":"en","primary_location":{"id":"doi:10.1016/j.jeconbus.2009.12.002","doi":"https://doi.org/10.1016/j.jeconbus.2009.12.002","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jeconbus.2009.12.002","pdf_url":null,"source":{"id":"https://openalex.org/S145099083","display_name":"Journal of Economics and Business","issn_l":"0148-6195","issn":["0148-6195","1879-1735"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economics and Business","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=968284","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5040035923","display_name":"Olesya V. Grishchenko","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I130769515","display_name":"Pennsylvania State University","ror":"https://ror.org/04p491231","country_code":"US","type":"education","lineage":["https://openalex.org/I130769515"]},{"id":"https://openalex.org/I2802905149","display_name":"Federal Reserve Board of Governors","ror":"https://ror.org/00v448643","country_code":"US","type":"government","lineage":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Olesya V. Grishchenko","raw_affiliation_strings":["Department of Finance, Smeal College of Business, Penn State University. 303 Business Building, Smeal College of Business, PSU, University Park, PA 16802, USA","Board of Governors of the Federal Reserve System,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, Smeal College of Business, Penn State University. 303 Business Building, Smeal College of Business, PSU, University Park, PA 16802, USA","institution_ids":["https://openalex.org/I130769515"]},{"raw_affiliation_string":"Board of Governors of the Federal Reserve System,","institution_ids":["https://openalex.org/I2802905149"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5040035923"],"corresponding_institution_ids":["https://openalex.org/I130769515","https://openalex.org/I2802905149"],"apc_list":{"value":2640,"currency":"USD","value_usd":2640},"apc_paid":null,"fwci":11.5072,"has_fulltext":false,"cited_by_count":54,"citation_normalized_percentile":{"value":0.98072503,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"62","issue":"3","first_page":"176","last_page":"194"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9301999807357788,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9301999807357788,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.02889999933540821,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10067","display_name":"Stochastic processes and financial applications","score":0.01600000075995922,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/habit-formation","display_name":"habit formation","score":0.9340000152587891},{"id":"https://openalex.org/keywords/external-habits","display_name":"external habits","score":0.625},{"id":"https://openalex.org/keywords/asset-pricing","display_name":"asset pricing","score":0.6740000247955322},{"id":"https://openalex.org/keywords/consumption-risk","display_name":"consumption risk","score":0.5730000138282776},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.7229999899864197},{"id":"https://openalex.org/keywords/long-horizon-returns","display_name":"long-horizon returns","score":0.7580000162124634}],"concepts":[{"id":"https://openalex.org/C77590361","wikidata":"https://www.wikidata.org/wiki/Q863764","display_name":"Keeping up with the Joneses","level":3,"score":0.8862994909286499},{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.7080866098403931},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.667746901512146},{"id":"https://openalex.org/C44670240","wikidata":"https://www.wikidata.org/wiki/Q1299714","display_name":"Habit","level":2,"score":0.6233974695205688},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5608575940132141},{"id":"https://openalex.org/C30772137","wikidata":"https://www.wikidata.org/wiki/Q5164762","display_name":"Consumption (sociology)","level":2,"score":0.5583876371383667},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.4771287441253662},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4644698202610016},{"id":"https://openalex.org/C2781249084","wikidata":"https://www.wikidata.org/wiki/Q908656","display_name":"Preference","level":2,"score":0.4438633620738983},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.43032386898994446},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3930714726448059},{"id":"https://openalex.org/C2983335520","wikidata":"https://www.wikidata.org/wiki/Q47537570","display_name":"Growth model","level":2,"score":0.09813672304153442},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.06480148434638977},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C542102704","wikidata":"https://www.wikidata.org/wiki/Q183257","display_name":"Psychotherapist","level":1,"score":0.0},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1016/j.jeconbus.2009.12.002","doi":"https://doi.org/10.1016/j.jeconbus.2009.12.002","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jeconbus.2009.12.002","pdf_url":null,"source":{"id":"https://openalex.org/S145099083","display_name":"Journal of Economics and Business","issn_l":"0148-6195","issn":["0148-6195","1879-1735"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economics and Business","raw_type":"journal-article"},{"id":"mag:2000505865","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=968284","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"pmh:oai:RePEc:eee:jebusi:v:62:y::i:3:p:176-194","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0148-6195(09)00074-5","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"mag:2000505865","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=968284","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":58,"referenced_works":["https://openalex.org/W1498568311","https://openalex.org/W1504690690","https://openalex.org/W1568505214","https://openalex.org/W1973291846","https://openalex.org/W1984008241","https://openalex.org/W1985130276","https://openalex.org/W1991406997","https://openalex.org/W1992236495","https://openalex.org/W1998633280","https://openalex.org/W2000321490","https://openalex.org/W2000781967","https://openalex.org/W2010997253","https://openalex.org/W2014033196","https://openalex.org/W2026605399","https://openalex.org/W2028382716","https://openalex.org/W2028995298","https://openalex.org/W2038367498","https://openalex.org/W2044879630","https://openalex.org/W2050095948","https://openalex.org/W2073465757","https://openalex.org/W2083476133","https://openalex.org/W2085647375","https://openalex.org/W2096136442","https://openalex.org/W2111193193","https://openalex.org/W2113704261","https://openalex.org/W2117178635","https://openalex.org/W2119143694","https://openalex.org/W2122756606","https://openalex.org/W2123518587","https://openalex.org/W2130830554","https://openalex.org/W2134854408","https://openalex.org/W2135814741","https://openalex.org/W2890811186","https://openalex.org/W2891159187","https://openalex.org/W2891467056","https://openalex.org/W2907939198","https://openalex.org/W3022637763","https://openalex.org/W3023906401","https://openalex.org/W3120096203","https://openalex.org/W3121498264","https://openalex.org/W3121766299","https://openalex.org/W3121790069","https://openalex.org/W3122543980","https://openalex.org/W3122592454","https://openalex.org/W3122664468","https://openalex.org/W3122764680","https://openalex.org/W3122837472","https://openalex.org/W3123957507","https://openalex.org/W3124466994","https://openalex.org/W3124485385","https://openalex.org/W3124704119","https://openalex.org/W3124715393","https://openalex.org/W3125017137","https://openalex.org/W3125208590","https://openalex.org/W3125360998","https://openalex.org/W3125389044","https://openalex.org/W4252853383","https://openalex.org/W4300567850"],"related_works":["https://openalex.org/W7096861732","https://openalex.org/W3122543980","https://openalex.org/W1847862386","https://openalex.org/W2355216014","https://openalex.org/W3023718886","https://openalex.org/W7098362754","https://openalex.org/W3122592454","https://openalex.org/W1486009214","https://openalex.org/W2020240362","https://openalex.org/W2134854408"],"abstract_inverted_index":null,"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":3},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":4},{"year":2016,"cited_by_count":4},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":6},{"year":2012,"cited_by_count":4}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2016-06-24T00:00:00"}