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Cross-dynastic intergenerational altruism
Nesje, Frikk - 2022
I study whether saving behavior reveals socially relevant intertemporal preferences. To this end, I decompose the present generation’s preference for the next into its dynastic and cross-dynastic components in a model of saving. If people are concerned about the next generation as such, then...
Persistent link: https://www.econbiz.de/10013041365
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Rank dependent utility, tax evasion and labor supply
Eide, Erling; Simson, Kristine von; 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/10008697806
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A complete and strongly anonymous leximin relation on infinite streams
Asheim, Geir B.; Zuber, Stéphane - 2011
Various extensions of the leximin order to the infinite dimensional setting have been suggested. They relax completeness and strong anonymity. Instead, by removing sensitivity to generations at infinite rank this paper defines a complete and strongly anonymous leximin relation on infinite...
Persistent link: https://www.econbiz.de/10009301142
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Behavioral indifference curves
Komlos, John - 2014
According to the endowment effect there is some discomfort associated with giving up a good, that is to say, we are willing to give up something only if the price is greater than the price we are willing to pay for it. This implies that the indifference curves should designate a reference point...
Persistent link: https://www.econbiz.de/10010370273
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The poverty of growth with interdependent utility functions
Komlos, John (contributor); Salamon, Peter (contributor) - 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/10002856378
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Optimal growth and impatience : a phase diagram analysis
Chang, Fwu-ranq (contributor) - 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/10002523969
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Afriat's theorem for general budget sets
Forges, Françoise (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003363532
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Intertemporal utility with heterogeneous goods and constant elasticity of substitution
Quaas, Martin F.; Baumgärtner, Stefan; Drupp, Moritz A.; … - 2019
We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of substitution between goods at each point in time and (ii) a constant intertemporal elasticity of substitution for at least one of the goods. We find that a standard (stationary)...
Persistent link: https://www.econbiz.de/10012156591
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Uncertain bequest needs and long-term Insurance contracts
Fei, Wenan; Fluet, Claude; Schlesinger, Harris - 2008
We examine how long-term life insurance contracts can be designed to incorporate uncertain future bequest needs. An individual who buys a life insurance contract early in life is often uncertain about the future financial needs of his or her family, in the event of an untimely death. Ideally,...
Persistent link: https://www.econbiz.de/10003805992
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On the arbitrariness of consumption
Whalley, John; Zhang, Shunming - 2009
We discuss a simple model of choices of joint consumption by a working couple who place maintenance of their marriage (relationship) above all else. Any proposal made by one partner seeking to provide maximal utility to the other so as to preserve the marriage, in the case where preferences of...
Persistent link: https://www.econbiz.de/10003808681