We solve Ireland's (1994) conspicuous consumption model (where social-status concerns are introduced into the utility … function) for Cobb-Douglas (CD) utility. In the resulting generalized CD consumer model, Engel curves are no longer limited to … of explaining empirically observed consumption patterns with a CD utility model …

of the elasticity of marginal utility with respect to consumption. Conceptually, the magnitude of these two utility …

This paper introduces optimal expected utility (OEU) risk measures, investigates their main properties and puts them in …, OEU is the only existing utility-based risk measure that is (non-trivial and) coherent if the utility function u has …

utility. Using the fact that networks form a special class of cooperative TU-games, we provide a foundation for the degree … measure as a von Neumann-Morgenstern expected utility function reflecting preferences over being in different positions in … represented by a utility function that is a multiple of the degree centrality measure. We show this in three steps. First, we …

utility functions are not concave-shaped but S-shaped. We justify the S shape using consumption-based asset pricing. We show … that various consumption-based asset pricing puzzles arise from the global concavity of the utility functions, and the S …-shaped consumption utility offers a solution. Also, the S-shaped utility helps explain the low elasticity of intertemporal substitution …

purchase value. We model a retiree as a utility-maximizing economic agent who can invest in a financial market with a risky and … incomplete market utility maximization problem via duality arguments and obtain semi-analytical solutions. We find that the …

rationing depends negatively on the buyer-seller ratio and positively on the concavity of the buyer's utility function …