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Reference-Dependent Consumption Plans
Koszegi, Botond; Rabin, Matthew - In: American Economic Review 99 (2009) 3, pp. 909-36
We develop a rational dynamic model in which people are loss averse over changes in beliefs about present and future consumption. Because changes in wealth are news about future consumption, preferences over money are reference-dependent. If news resonates more when about imminent consumption...
Persistent link: https://www.econbiz.de/10005014649
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Who Is (More) Rational?
Choi, Syngjoo; Kariv, Shachar; Wieland M?ller; … - In: American Economic Review 104 (2014) 6, pp. 1518-50
Revealed preference theory offers a criterion for decision-making quality: if decisions are high quality then there exists a utility function the choices maximize. We conduct a large-scale experiment to test for consistency with utility maximization. Consistency scores vary markedly within and...
Persistent link: https://www.econbiz.de/10010777186
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Inheritances, Intergenerational Transfers, and the Accumulation of Health
Carman, Katherine Grace - In: American Economic Review 103 (2013) 3, pp. 451-55
This paper considers the mechanisms behind a positive correlation between inheritances and health. First, there may … merely be a correlation: those from families with enough wealth to provide an inheritance tend to have better health. Second …, financial resources could be used to purchase inputs to health. Third, bequests may signal a stronger interest in one's child …
Persistent link: https://www.econbiz.de/10010659351
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The Housing Market(s) of San Diego
Landvoigt, Tim; Piazzesi, Monika; Schneider, Martin - In: American Economic Review 105 (2015) 4, pp. 1371-1407
This paper uses an assignment model to understand the cross section of house prices within a metro area. Movers' demand for housing is derived from a life-cycle problem with credit market frictions. Equilibrium house prices adjust to assign houses that differ by quality to movers who differ by...
Persistent link: https://www.econbiz.de/10011211792
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Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds
Gomes, Francisco J.; Kotlikoff, Laurence J.; Viceira, … - In: American Economic Review 98 (2008) 2, pp. 297-303
Persistent link: https://www.econbiz.de/10005233653
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Contingent Claims Analysis and Life-Cycle Finance
Bodie, Zvi; Ruffino, Doriana; Treussard, Jonathan - In: American Economic Review 98 (2008) 2, pp. 291-96
Persistent link: https://www.econbiz.de/10005241105
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Why Don't the Poor Save More? Evidence from Health Savings Experiments
Dupas, Pascaline; Robinson, Jonathan - In: American Economic Review 103 (2013) 4, pp. 1138-71
technologies can substantially increase investment in preventative health and reduce vulnerability to health shocks. Simply … providing a safe place to keep money was sufficient to increase health savings by 66 percent. Adding an earmarking feature was …
Persistent link: https://www.econbiz.de/10010815703
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The Spending and Debt Response to Minimum Wage Hikes
Aaronson, Daniel; Agarwal, Sumit; French, Eric - In: American Economic Review 102 (2012) 7, pp. 3111-39
Immediately following a minimum wage hike, household income rises on average by about $250 per quarter and spending by roughly $700 per quarter for households with minimum wage workers. Most of the spending response is caused by a small number of households who purchase vehicles. Furthermore, we...
Persistent link: https://www.econbiz.de/10010815749
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Intertemporal Consumption and Credit Constraints: Does Total Expenditure Respond to an Exogenous Shock to Credit?
Leth-Petersen, Søren - In: American Economic Review 100 (2010) 3, pp. 1080-1103
There is continuing controversy over the importance of credit constraints. This paper investigates whether total household expenditure and debt is affected by an exogenous increase in access to credit provided by a credit market reform that enabled Danish house owners to use housing equity as...
Persistent link: https://www.econbiz.de/10008542958
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Immigration and Inequality
Card, David - In: American Economic Review 99 (2009) 2, pp. 1-21
Persistent link: https://www.econbiz.de/10004999865