statistical aggregation procedure which allows for worker heterogeneity in observables and unobservables and is applicable to an …

after separability being imposed. The empirical findings of the exact approach to aggregation are found to be rather …

exchange rate uncertainty. Based on this micro foundation an aggregation approach is presented. Under uncertainty, intervals of … where the aggregation of microeconomic real options effects under uncertainty are relevant, they may even be of a more …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

The consequences of aggregation, temporal or spatial, for the estimation of demand models are theoretically well … model at the most aggregated levels. Indeed, the results for quadratic adjustment costs confirm that aggregation along both …

group’? A fourth type of contribution studied is the role of entrepreneurship in increasing individuals’ utility levels …

presence of relative income terms in the utility function. Income may be evaluated relative to others (social comparison) or to … also discuss the relation (or not) between happiness and utility and discuss some non-happiness research (behavioural …, experimental, neurological) dealing with income comparisons. We last consider how relative income in the utility function affects …