Abstract We investigate the relationship between centralized and decentralized collective demand models applied to consumption within a household with multiple individuals. The centralized program is described by a Bergsonian representation of the household utility function and a household...

This paper compares dierent centralized collective models for maximizing the utility of a household from the point of view of the single members that compose it. We describe the collective maximization program as a vector optimization problem and analyze the household welfare and Pareto...

This paper measures how the costs of children are shared between the father and the mother by estimating a gender specific demand system related to the demand for market goods, household products and leisure within a collective approach. The estimates illustrate how the intra-household...

This study proposes a novel approach to estimating a travel cost model that accounts for intrahousehold resource allocation. We define it ‘Collective Travel Cost Method’ (CTCM). The technique is based on an analogy borrowed from the literature of collective household behavior and adapted to...

We examine the properties ensuring that individual expenditure functions, derived within the context of the collective household model, are legitimate individual cost functions. Our curvature results are important for the characterization of collective demand functions as well and for the...

Traditional recreation demand models do not make a distinction between a household and an individual as the reference decision-making unit, thus assuming that a family maximizes a single utility function, even if it consists of different individuals. Such models ignore the possibility of family...

This study develops a household enterprise model extended to encompass recent advances in collective theory. We use a simulation model, in which production and consumption-leisure choices are represented along with the rule governing intra-household resource allocation, to analyze the income and...

We develop a structural econometric model to elicit household-specific expectations about future financial asset returns and risk attitudes by using data on observed portfolio holdings and self-assessed willingness to bear financial risk. Our framework assumes that household portfolios are...

Using the 2006 wave of the Survey on Health, Ageing and Retirement in Europe (SHARE), this paper sheds light on the role jointly played by individuals’ financial risk tolerance and their level of trust in others (generalized trust) in affecting their risky assets investments. We document that...