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 …

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 …

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 …

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 …