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Comparative statics for a consumer with possibly multiple optimum consumption bundles
Dasgupta, Indraneel; Pattanaik, Prasanta K. - 2010
in the standard revealed preference theory of consumers’ behaviour. These results are however derived for demand … preference approach to the theory of consumers' behaviour, this note establishes such results for demand correspondences; the …
Persistent link: https://www.econbiz.de/10003942309
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Are children "normal"?
Black, Dan A.; Kolesnikova, Natalia; Sanders, Seth; … - 2011
We examine Becker's (1960) contention that children are "normal." For the cross section of non-Hispanic white married couples in the U.S., we show that when we restrict comparisons to similarly-educated women living in similarly-expensive locations, completed fertility is positively correlated...
Persistent link: https://www.econbiz.de/10009408778
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A theory of price adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …
Persistent link: https://www.econbiz.de/10010350414
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The dynamics of market insurance, insurable assets, and wealth accumulation
Koeniger, Winfried - 2002
We analyze dynamic interactions between market insurance, the stock of insurable assets and liquid wealth accumulation in a model with non-durable and durable consumption. The stock of the durable is exposed to risk against which households can insure. Since the model does not have a closed form...
Persistent link: https://www.econbiz.de/10011414203
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Kinky choices, dictators and split might : a non-cooperative model for household consumption and labor supply
Boone, Jan; Wiel, Karen van der; Vermeulen, Frederic - 2009
It is unlikely that husbands and wives always agree on exactly what public goods to buy. Nor do they necessarily agree on how many hours to work with obvious consequences for the household budget. We therefore model consumption and labor supply behavior of a couple in a non-cooperative setting...
Persistent link: https://www.econbiz.de/10003872703
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Consumers and the brain drain : product design and the gains from emigration
Kuhn, Peter Joseph (contributor);  … - 2008
We consider the welfare effects of skilled worker emigration in a context where skilled labor plays a role in product design. We show such emigration can benefit the residents left behind, even when consumers' tastes exhibit a form of home bias. This is because emigration improves the design of...
Persistent link: https://www.econbiz.de/10003737645
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Social interactions in demand
Grodner, Andrew (contributor);  … - 2008
We examine theoretically demand in a two-good economy where the demand of one good is influenced by either a spillover effect in the form of an externality from other consumers' choices and or a conformity effect representing a need for making similar choices as others. A positive spillover...
Persistent link: https://www.econbiz.de/10003750307
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Work and television
Corneo, Giacomo - 2001
Evidence from a sample of countries show that people roughly spend as much time watching television as earning their living. Moreover, television viewing and work hours are positively correlated across countries. A simple model based on complementarities in the organization of free time is...
Persistent link: https://www.econbiz.de/10011403923
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The intrahousehold allocation of private and public consumption : theory and evidence from US data
Donni, Olivier (contributor) - 2006
We adopt the collective approach to consumer behavior with egoistic agents, and assume that the household consumption is either private or public. We then show that (i) household demands have to satisfy testable constraints and (ii) some elements of the decision process can be retrieved from...
Persistent link: https://www.econbiz.de/10003323171
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Approaches to estimating the health state dependence of the utility function
Finkelstein, Amy (contributor);  … - 2009
If the marginal utility of consumption depends on health status, this will affect the economic analysis of a number of central problems in public finance, including the optimal structure of health insurance and optimal life cycle savings. In this paper, we describe the promises and challenges of...
Persistent link: https://www.econbiz.de/10003793984