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The willingness to pay for mortality risk reductions : a comparison of the United States and Canada
Alberini, Anna; Krupnick, Alan J.; Cropper, Maureen L.; … - 2002
: individuals aged over 70 years hold WTP values approximately one-third lower than other respondents. Respondent health status has … affected population s age or health status. …
Persistent link: https://www.econbiz.de/10011409036
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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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Bequests, control rights, and cost-benefit analysis
Glazer, Amihai; Kanniainen, Vesa; Niskanen, Esko - 2001
Consider a public project which produces a consumption good and which benefits future generations. Let a conventional cost-benefit analysis find that it gives higher benefits than projects it would dis-place in the private sector. Voters may nevertheless oppose the public project: the...
Persistent link: https://www.econbiz.de/10011400766
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Discounting in an uncertain world : disentangling the debate on the Weitzman-Gollier puzzle
Buchholz, Wolfgang - 2014
Under conditions of risk it makes a difference whether the discount rate is determined as an expected present or as an expected future value. This difference which is dubbed as the Weitzman-Gollier puzzle has stimulated an intensive discussion which, however, is somewhat confusing. In this paper...
Persistent link: https://www.econbiz.de/10010412052