We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of … the goods. We find that a standard (stationary) intertemporal utility function is consistent with these two properties if … elasticities of substitution are identical, or if the instantaneous utility function is Cobb-Douglas. We also characterize the …

This paper focuses on whether households facing economic scarcity tend to change consumption priorities as measured by … feast-related goods, indicating a "feast and famine" consumption strategy. Nevertheless, spending on food with label claims …

changes in disposable income around the country's financial crisis in 2008, to plot the life-cycle path of consumption and … income for different education groups and to estimate the level of consumption smoothing. We split households into three … educated engage in more consumption smoothing than those without a university degree. We also construct a measure for marginal …

general discounted utility model which encompasses the main empirically supported discounted utility models. We show that our … axioms on preferences are satisfied in our general discounted utility model. Finally, we discuss the various explanations of …

This paper argues that the consumption value of education is an important motivation for the educational choice. While … had an ex ante willingness to pay for the consumption value of this educational type of at least 34% of the present value … of expected potential lifetime income. The ex post price for this consumption value turned out to be 39% of their …