these two sets of results. This kind of validation of experienced utility via direct comparison with decision utility …

with high cognitive skills make decisions akin to the expected utility model.As predicted by our model, in our empirical … to a better understanding of the role of cognitive skills in decision making under uncertainty …

ignoring the household as unit of decision-making has relevant empirical consequences. In estimation, the individual search … individual search specification implies gender differentials in lifetime utility inequality 74% larger. The results of our policy … experiments emphasize the importance of looking at lifetime utility inequality measures as opposed to simply cross-sectional wage …

learning model with the theory of rational inattention introduced by Sims (2006). In the model firms optimally allocate …

This paper deals with one of the main empirical problems associated with the rational addiction theory, namely that its … cigarettes consumers discount future utility exponentially. We further show that the proposed empirical specification of the …

In this paper we question the hypothesis of full rationality in the context of job changing behaviour, via simple … forces of job change are future real wages and expected job quality. Bounded rationality suggests that individuals will … and between cells. Under full rationality the following are to be expected: high inter-cell mobility, large dispersion …

-relevance of the task, we show that subjects update their beliefs optimistically because they derive direct utility flows from …

individual models presented in his theory of marriage. Decision-making models assuming independent individual household members …Much of the recent literature in household economics has been critical of unitary models of household decision … discusses another alternative: independent individual models of decision-making that don't make any specific assumptions of …