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 …

gains and report greater propensities to consume. A standard optimal consumption choice model, enriched with a rational but …

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 …

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 …

consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and …) consumption events, later information becomes more attractive. We also identify an aversion towards piecemeal information …

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 …

consumers' actual utility, and the "counterfactual" utility they expect to obtain if they were able to set policy themselves … rational and/or informed, counterfactual utility becomes endogenous to current policy, and the welfare loss associated with …