Showing 1 - 10 of 57
Emotions were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory basically abolished emotions, behavioural economics more recently reintroduced emotions in utility theory. Beyond utility theory, economic theorists use...
Persistent link: https://www.econbiz.de/10011499845
Friedrich Hayek's The Road to Serfdom is an influential book more than seventy years after its publication. This paper examines his arguments and finds that they come up short in many ways and suggests that we have taken "another road to serfdom". Hayek's mind was completely closed to the...
Persistent link: https://www.econbiz.de/10011497774
This paper is based on the ideas of political philosopher John Rawls who suggested that a just society is one which would be created behind a "veil of ignorance", that is to say, without knowing where one would end up in the society's distribution of talent and other attributes valued in the...
Persistent link: https://www.econbiz.de/10011497927
the share of spending on necessity goods relative to luxury goods in a large national supermarket chain in Israel for the … regulated products, is down by 4.8%, but the cut in spending on luxury goods is even more pronounced at 8%, and the difference … between these two types of goods is up significantly by 3.2%. Within the luxury category, we observe a 10% or more decline in …
Persistent link: https://www.econbiz.de/10014232875
, 19th century weight was higher in states with greater average wealth and population density and lower in states with … greater wealth inequality. …
Persistent link: https://www.econbiz.de/10011392586
How do sudden, large wealth losses affect mental health? Most prior studies of the causal effects of material well … market accumulations may not inform this question if the effect of wealth on health is asymmetric. We use exogenous variation … in the interview dates of the 2008 Health and Retirement Study to assess the impact of large wealth losses on mental …
Persistent link: https://www.econbiz.de/10009748354
We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011551036
well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows … extreme wealth inequality in society. …
Persistent link: https://www.econbiz.de/10012815788
Using new long-run microdata, this paper studies wealth and income trends of college and noncollege households in the … United States since 1956. We document the emergence of a substantial college wealth premium since the 1980s, which is … considerably larger than the college income premium. Over the past four decades, the wealth of American households with a …
Persistent link: https://www.econbiz.de/10012031017
Strong intergenerational associations in wealth have fueled a longstanding debate over why children of wealthy parents … tend to be well off themselves. We investigate the role of family background in determining children's wealth accumulation … by Norwegian parents to a population panel data set with detailed information on disaggregated wealth portfolios and …
Persistent link: https://www.econbiz.de/10011814565