Showing 1 - 10 of 166
In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...
Persistent link: https://www.econbiz.de/10010884223
The implementation of Gary Becker's (1965) time allocation model is hampered by the fact that values of the different time uses are usually not observed. In practice, one often assumes that the value of time is uniform across time uses by using market wages. This approach implies a fundamental...
Persistent link: https://www.econbiz.de/10011268327
We propose a method to identify bounds (i.e. set identification) on the sharing rule for a general collective household … bounds by applying revealed preference restrictions implied by the collective model to the household's continuous aggregate … assignable within the household, though having such information tightens the bounds. An empirical application demonstrates the …
Persistent link: https://www.econbiz.de/10011279275
This paper develops a conceptual framework that can explain why economic development goes along with increases in body weight and obesity rates. We first introduce the concept of novelty consumption, which refers to an increase in food availability due to trade or innovation. Then we study how...
Persistent link: https://www.econbiz.de/10011264784
joint consumption. In this paper, we extend the collective model of household consumption to recover mother's, father's and … household resources, though not enough to avoid a very large extent of child poverty compared to what is found in traditional … have more command over household resources. Baseline results on children's shares are robust to using alternative …
Persistent link: https://www.econbiz.de/10009325415
of scale of living in a couple, and a sharing rule that governs the intra-household allocation of resources. The model is …
Persistent link: https://www.econbiz.de/10005761723
We extend the nonparametric ‘revealed preference’ methodology for analyzing collective consumption behavior (with consumption externalities and public consumption), to render it useful for empirical applications that deal with welfare-related questions. First, we provide a nonparametric...
Persistent link: https://www.econbiz.de/10005762164
on how many hours to work with obvious consequences for the household budget. We therefore model consumption and labor …
Persistent link: https://www.econbiz.de/10004969337
We adopt the collective approach to consumer behavior with egoistic agents, and assume that the household consumption … is either private or public. We then show that (i) household demands have to satisfy testable constraints and (ii) some …-demand’) framework in which household demands are directly derived from the marginal rates of substitution. Finally, we present an …
Persistent link: https://www.econbiz.de/10005703462
Neoclassical economic theory rules out systematic errors in consumption choice. According to the basic view, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in the future and they can maximize their utility. This...
Persistent link: https://www.econbiz.de/10005703642