A comprehensive model of economic household decision is presented which incorporates both fully cooperative and fully non-cooperative variants, parameterized by the income distribution, as well as a semi-cooperative variant, parameterized in addition by a vector B, representing the degrees of...

The paper suggests a new Keynesian model of the General Theory. A reduced form entails a diagram with three curves relating employment and the real wage, which represent the two fundamental classical postulates and the principle of effective demand. This diagram illustrates better than IS-LM the...

Since the seminal work of Becker, the dynamics of endogenous fertility has been based on the trade-off faced by parents between the quantity and the quality of their children. However, in developing countries, when child labor is an indispensable source of household income, parents actually...

In Keynes’ beauty contest, agents have to choose actions in accordance with an expected fundamental value and with the conventional value expected to be set by the market. In doing so, agents respond to a fundamental and to a coordination motive respectively, the prevalence of either motive...

The paper proposes a model of household behavior with both private and public consumption where the spouses independently maximize their utilities, but taking into account, together with their own individual budget constraints, the collective household budget constraint with public goods...