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Existence of Stationary Equilibrium in the Markets for New and Used Durable Goods

Konishi, Hideo; Sandfort, Michael - Department of Economics, Boston College - 2000

We prove the existence of stationary equilibrium in the primary and secondhand markets for an indivisible consumer durable in a general model with stochastic degradation and endogenous scrappage decisions. Unlike Rust (1985), we introduce transaction costs in the model as a motivation for...

Persistent link: https://www.econbiz.de/10005074056

Tiebout's Tale in Spatial Economies: Entrepreneurship, Self-Selection, and Efficiency

Konishi, Hideo - Department of Economics, Boston College - 2006

externalities due to traffic congestion are not present. …

Persistent link: https://www.econbiz.de/10004968846

On the Shapley-Scarf Economy: The Case of Multiple Types of Indivisible Goods

Konishi, Hideo; Quint, Thomas; Wako, Jun - Department of Economics, Boston College - 2000

' preferences are strict and can be represented by additively separable utility functions. The core may be empty. The strict core …

Persistent link: https://www.econbiz.de/10005074065

Course Bidding at Business Schools

Sönmez, Tayfun; Ünver, M. Utku - Department of Economics, Boston College - 2005

courses. Bids play two key roles under these mechanisms: Bids are used to infer student preferences and bids are used to … determine who have bigger claims on course seats. We show that these two roles may easily conflict and preferences induced from … bids may significantly differ from the true preferences. Therefore while these mechanisms are promoted as market mechanisms …

Persistent link: https://www.econbiz.de/10005074096

Estimation of Collective Household Models With Engel Curves

Lewbel, Arthur; Pendakur, Krishna - Department of Economics, Boston College - 2008

The structural consumer demand methods used to estimate the parameters of collective household models are typically either very restrictive and easy to implement or very general and difficult to estimate. In this paper, we provide a middle ground. We adapt the very general framework of Browning,...

Persistent link: https://www.econbiz.de/10005074041

Accounting for Trends in the Almost Ideal Demand System

Ng, Serena - Department of Economics, Boston College - 1997

Flexible functional forms of indirect utility and expenditure functions are frequently used in approximating the behavior of utility maximizing consumers to arrive at demand systems that can be easily estimated. A common finding in time series estimations of the Almost Ideal Demand System is...

Persistent link: https://www.econbiz.de/10005074164

Tricks With Hicks: The EASI Demand System

Lewbel, Arthur; Pendakur, Krishna - Department of Economics, Boston College - 2006

We invent Implicit Marshallian Demands, a new type of demand function that combines desirable features of Hicksian and Marshallian demand functions. We propose and estimate the Exact Affine Stone Index (EASI) Implicit Marshallian Demand system. Like the Almost Ideal Demand (AID) system, EASI...

Persistent link: https://www.econbiz.de/10005041763

Estimating Consumption Economies of Scale, Adult Equivalence Scales, and Household Bargaining Power

Lewbel, Arthur; Browning, Martin; Chiappori, Pierre-Andrée - Department of Economics, Boston College - 2004

How much income would a woman living alone require to attain the same standard of living that she would have if she were married? What percentage of a married couple's expenditures are controlled by the husband? How much money does a couple save on consumption goods by living together versus...

Persistent link: https://www.econbiz.de/10005027802

Shape Invariant Demand Functions

Lewbel, Arthur - Department of Economics, Boston College - 2007

Shape invariance is a property of demand functions that is convenient for semiparametric demand modelling. All known shape invariant demands are derived from utility functions that, up to monotonic transformation, are called IB/ESE (independent of base - equivalence scale exact) utility...

Persistent link: https://www.econbiz.de/10005027852

Sharing Rule Identification for General Collective Consumption Models

Lewbel, Arthur; Cherchye, Laurens; Rock, Bram De; … - Department of Economics, Boston College - 2012

uniquely identified without strong assumptions on preferences across households of different compositions. Our new results show …

Persistent link: https://www.econbiz.de/10010680874