Showing 1 - 10 of 26
Persistent link: https://www.econbiz.de/10003641773
This paper argues that the consumption value of education is an important motivation for the educational choice. While controlling for ability, we document that individuals are willing to forego substantial future wage returns in order to acquire a particular type of higher education. We...
Persistent link: https://www.econbiz.de/10003887465
In the simple Allingham-Sandmo portfolio model of tax evasion an expected utility maximizer will cheat more than what … 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 …
Persistent link: https://www.econbiz.de/10008697806
extended rank-discounted utilitarianism for any utility function, as the discount factor approaches zero. -- intergenerational …
Persistent link: https://www.econbiz.de/10009301142
We propose that outcome utility and process utility can be distinguished and empirically measured. People gain … procedural utility from participating in the political decision-making process itself, irrespective of the outcome. Nationals … enjoy both outcome and process utility, while foreigners are excluded from political decision-making and therefore cannot …
Persistent link: https://www.econbiz.de/10011398899
. We argue that reported subjective well-being is a satisfactory empirical approximation to individual utility and that …
Persistent link: https://www.econbiz.de/10011398921
the current level of consumption. The kinks in the curves imply that the utility function is not differentiable everywhere …
Persistent link: https://www.econbiz.de/10010370273
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
Persistent link: https://www.econbiz.de/10011523747
important case of independence, it is shown that the self-employed derive more utility from their work than people employed by … an organization, irrespective of income gained or hours worked. This is evidence for procedural utility: people do not …
Persistent link: https://www.econbiz.de/10011507967
This paper calculates, for the top twenty emitting countries, how much pricing of carbon dioxide (CO2) emissions is in their own national interests due to domestic co-benefits. On average, nationally efficient prices are substantial, $ 57.5 per ton of CO2 (for year 2010), reflecting primarily...
Persistent link: https://www.econbiz.de/10010418260