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Preference dynamics : a procedurally rational model of time and effort allocation

Krecik, Markus - 2024

Current time allocation and household production models face three major weaknesses: First, they only describe the average time allocation. Thus, information about the order of activities is lost. Therefore, it is impossible to describe the influence of activities on later ones. Such...

Persistent link: https://www.econbiz.de/10014480143

Behavioral implementation without unanimity

Korpela, Ville; Lombardi, Michele; Zachariassen, Julius - 2024

Behavioral implementation studies implementation when agents' choices need not be rational. All existing papers of this literature, however, fail to handle a large class of choice behaviors because they rely on a well-known condition called Unanimity. This condition says, roughly speaking, that...

Persistent link: https://www.econbiz.de/10014551784

Consumption Over the Life Cycle: A Selected Literature Review

Kankaanranta, Päivi - 2006

Simple life cycle and permanent income hypotheses imply that changes in consumption should be unforecastable. Rational forward-looking agents ought to smooth consumption over the life cycle and exhaust the asset stock accumulated during the working career in retirement. Empirical observations...

Persistent link: https://www.econbiz.de/10012502961

Endogenous preferences, emotions, and the breaking of social capital into economics

Vihanto, Martti - 2007

analysis, we have to regard human preferences as endogenous and pay more attention to the contents rather than merely the logic …

Persistent link: https://www.econbiz.de/10012502972

Cognitive Equilibrium

Vartiainen, Hannu - 2007

-transitive preferences. The existence of a reasoning process allows him to strategically manipulate how he reasons. A reasoning strategy that … equilibrium exists under all complete preferences, and characterize outcomes that can be implemented within it. Cognitive … equilibria employ complex cognitive strategies. Simple strategies suffice only under transitive preferences. Robustness of the …

Persistent link: https://www.econbiz.de/10012502974

Forms, importance and working of social institutions

Vihanto, Martti - 2009

Social institutions are persistent regularities in contracting and other relations amongst men and in the unintended consequences of such rule-like behavior. They include morality and law as well as institutions of governance such as branding and advertising. Institutions are studied in all...

Persistent link: https://www.econbiz.de/10012503003

Behavioral Strong Implementation

Hayashi, Takashi; Jain, Ritesh; Korpela, Ville; … - 2021

Choice behavior is rational if it is based on the maximization of some context-independent preference relation. This study re-examines the questions of implementation theory in a setting where players’ choice behavior need not be rational and coalition formation must be taken into account. Our...

Persistent link: https://www.econbiz.de/10012503094

Demand systems with unit values : a comparison of two specifications

Lahatte, Agénor; Miquel, Ruth; Laisney, François; … - 1997

The availability of quantity information along with expenditure information in some household surveys allows the estimation of price reactions on the basis of unit values. We compare two specifications that have been proposed in this context by Deaton (1990) and Crawford et al. (1997) in order...

Persistent link: https://www.econbiz.de/10011427724

Markets for leaked information

Huck, Steffen; Weizsäcker, Georg - 2015 - November 2015

We study markets for sensitive personal information. An agent wants to communicate with another party but any revealed information can be intercepted and sold to a third party whose reaction harms the agent. The market for information induces an adverse sorting effect, allocating the information...

Persistent link: https://www.econbiz.de/10011380192

Estimation of household demand systems using unit value data

Crawford, Ian; Laisney, François; Preston, Ian - 1997

Many budget surveys present the interesting features that for a wide range of goods they contain quantity information along with expenditure information, and that the geographical location of households is fairly precise. We take advantage of these features to develop a method for estimation of...

Persistent link: https://www.econbiz.de/10011449002