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Consumer Search Costs and Preferences on the Internet
Jolivet, Grégory - 2014
We analyse consumers' search and purchase decisions on an Internet platform. Using a rich dataset on all adverts posted and transactions made on a major French Internet platform (PriceMinister), we show evidence of substantial price dispersion among adverts for the same product. We also show...
Persistent link: https://www.econbiz.de/10013043670
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Time Will Tell : Recovering Preferences When Choices are Noisy
Alós-Ferrer, Carlos - 2018
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10012907827
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An Experimental Test of a Search Model Under Ambiguity
Asano, Takao - 2014
This paper's objective is to design a laboratory experiment to explore the effect of ambiguity on a subject's search behavior in a finite-horizon sequential search model. In so doing, we employ a new approach to observe the potential trend of reservation points that is usually unobserved. We...
Persistent link: https://www.econbiz.de/10013058734
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Non-Unitary Models of Household Behavior : A Survey of the Literature
Chiappori, Pierre-Andre - 2009
This article considers non-unitary models of household behavior. These models suppose explicitly that households consist of a number of different members with preferences that are different from each other. They can be split up into two principal categories: cooperative (or collective) models,...
Persistent link: https://www.econbiz.de/10013153303
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Kinky Choices, Dictators and Split Might : A Non-Cooperative Model for Household Consumption and Labor Supply
Boone, Jan - 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/10013158087
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Comparative Statics for a Consumer with Possibly Multiple Optimum Consumption Bundles
Dasgupta, Indraneel - 2010
Non-positivity of the generalized substitution effect, non-positivity of the own-price substitution effect, homogeneity of degree zero in all prices and income, and the law of demand are some of the most primitive comparative static results in the standard revealed preference theory of...
Persistent link: https://www.econbiz.de/10013146480
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Riches to Rags Every Month? The Fall in Consumption Expenditures between Paydays
Huffman, David; Barenstein, Matias - 2021
-hyperbolic discounting. However, the hyperbolic model predicts that credit constraints drive the decline, and we find only mixed evidence in … declining cash spending but flat credit-card spending over the pay period. We propose an alternative explanation for the results …
Persistent link: https://www.econbiz.de/10013318839
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Validating the Collective Model of Household Consumption Using Direct Evidence on Sharing
Bargain, Olivier - 2018
Recent advances in the collective model literature suggest ways to estimate the complete allocation of resources within households, using assignable goods and assuming adult preference similarity across demographic groups (or across spouses). While it makes welfare analysis at the individual...
Persistent link: https://www.econbiz.de/10012914348
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An Afriat Theorem for the Collective Model of Household Consumption
Cherchye, L.; De Rock, Bram; Vermeulen, Frederic - 2021
We provide a nonparametric 'revealed preference' characterization of rational household behavior in terms of the collective consumption model, while accounting for general (possibly non-convex) individual preferences. We establish a Collective Axiom of Revealed Preference(CARP), which provides a...
Persistent link: https://www.econbiz.de/10013324875
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Hidden Insurance in a Moral Hazard Economy
Bertola, Giuseppe - 2013
with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then … standard functional form restrictions ensure that individual objective functions are optimized by an effort and insurance … combination that is unique and satisfies first- and second-order conditions. Modeling insurance incompleteness in terms of costly …
Persistent link: https://www.econbiz.de/10013071425