durable goods. We show that consumers' utility and discount functions in a dynamic discrete choice model are jointly … identified using data generated by this specific design. In contrast, based on revealed preference data, the utility and discount …

operators and another that exploits the theory of monotone concave operators - we obtain conditions that are both necessary and …

the linear approach to dynamic programming by using ideas from approximation theory to avoid inefficient discretization …

' utility functions and the concavity of the social welfare function. In the pertinent literatures, notably on optimal income …, however, reveals that this is not the case. Concavity of utility has a simple, direct effect on the marginal social value of … cases may not be very significant. The implications of this difference are examined for some standard forms of utility and …

such demand systems are integrable, i.e. can be derived from the maximization of a well-behaved utility function. This …

Zeitverwendungserhebung, 2012-13, have sufficient observations to allow examining the theory of household production in much more detail than … substitution among commodities in utility functions. We then use the evidence of price discrimination in product markets against …

This paper develops a theory of optimal capital taxation that expresses optimal tax formulas in sufficient statistics …. We first consider a simple model with utility functions linear in consumption and featuring heterogeneous utility for … incomes. Second, we show how these results can be extended to the case with concave utility for consumption. The same types of …

paper, we argue that a stable utility function defined over consumption and leisure can account for this fact, jointly with … displaying balanced growth. The key feature of the utility function is an income effect (of higher wages) that slightly outweighs …

introduces health-dependent utility into a model in which preferences for bequests, expenditures when in need of long-term care …