Narrow search
Showing 1 - 10 of 1,855
Cover Image
The Quasilinear Quadratic Utility Model : An Overview
Choné, Philippe - 2019
The quasi-linear quadratic utility model is widely used in economics. The knowledge of its exact origin is less widespread. A first contribution of the paper is to explain the genesis of this model. Next, we review the main properties of the general model, mainly following the previous...
Persistent link: https://www.econbiz.de/10012866406
Cover Image
Optimal growth and impatience : a phase diagram analysis
Chang, Fwu-Ranq - 2004
In this paper we show that we can replace the assumption of constant discount rate in the onesector optimal growth model with the assumption of decreasing marginal impatience without losing major properties of the model. In particular, we show that the steady state exists, is unique, and has a...
Persistent link: https://www.econbiz.de/10010261104
Cover Image
The poverty of growth with interdependent utility functions
Komlos, John; Salamon, Peter - 2005
We argue that with interdependent utility functions growth can lead to a decline in total welfare of a society if the gains from growth are sufficiently unequally distributed in the presence of negative externalities, i.e., envy.
Persistent link: https://www.econbiz.de/10010261195
Cover Image
Afriat's theorem for general budget sets
Forges, Françoise; Minelli, Enrico - 2006
Afriat (1967) showed the equivalence of the strong axiom of revealed preference and the existence of a solution to a set of linear inequalities. From this solution he constructed a utility function rationalizing the choices of a competitive consumer. We extend Afriat's theorem to a class of...
Persistent link: https://www.econbiz.de/10010263900
Cover Image
Rank dependent utility, tax evasion and labor supply
Eide, Erling; von Simson, Kristine; Strøm, Steinar - 2010
payers act according to some non-expected utility theory, and (2) Individual ethical norms and social stigma induce people … subjective probabilities of being penalised according to the rank dependent utility theory, and (2) Tax payers' beliefs about … utility theory. The model explains data 53% better than pure random choices and predicts hours worked in the regular economy …
Persistent link: https://www.econbiz.de/10010274740
Cover Image
A Probabilistic Solution to High-Dimensional Continuous-Time Macro and Finance Models
Huang, Ji - 2023
This paper introduces the probabilistic formulation of continuous-time economic models: forward stochastic differential equations (SDE) govern the dynamics of backward-looking variables, and backward SDEs capture that of forward-looking variables. Deep learning streamlines the search for the...
Persistent link: https://www.econbiz.de/10014345557
Cover Image
Outside Options and Worker Motivation
Ahammer, Alexander; Fahn, Matthias; Stiftinger, Flora - 2023
We study the relationship between outside options and workers’ motivation to exert effort. We evaluate changes in outside options arising from age and experience cutoffs in the Austrian unemployment insurance (UI) system, and use absenteeism as a proxy for worker effort. Results indicate that...
Persistent link: https://www.econbiz.de/10014345957
Cover Image
Competition and Career Advancement
Johnsen, Julian; Ku, Hyejin; Salvanes, Kjell G. - 2023
In standard promotion tournaments, contestants are ranked based on their output or productivity. We argue that workers’ career progression may also depend on their relative rankings in dimensions a priori unrelated to their job performance, such as visibility or in-person presence. Such...
Persistent link: https://www.econbiz.de/10014345961
Cover Image
Precautionary Savings, Loss Aversion, and Risk : Theory and Evidence
Dhami, Sanjit; Hajimoladarvish, Narges; Georgalos, … - 2023
of savings, precautionary savings, loss aversion, and risk. We provide the relevant theory, followed by empirical tests …
Persistent link: https://www.econbiz.de/10014346247
Cover Image
Can Competition Reduce Conflict?
Garg, Teevrat; Gennaioli, Caterina; Lovo, Stefania; … - 2023
We examine the effect of inter-group fiscal competition on within-group violent conflict. Using a triple difference design, we exploit exogenous variation in the degree to which villages in sub-districts compete for public funds. We find that higher competition between villages reduces conflict...
Persistent link: https://www.econbiz.de/10014346249