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Time Will Tell: Recovering Preferences When Choices Are Noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 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/10011984478
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Labor and Financial Market Interactions: The Case of Labor Income Risk and Car Insurance in the UK 1969-95
Koeniger, Winfried - 2001
and car insurance using data from the UK. The main empirical results are: ? higher labor income risk induces a higher … demand for car insurance. ? the effects of increases in labor income risk after 1979 seem to be more than offset by a more …Microeconomic theory predicts that under certain regularity conditions higher idiosyncratic risk increases the …
Persistent link: https://www.econbiz.de/10010262448
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Riches to Rags Every Month? : The Fall in Consumption Expenditures Between Paydays
Huffman, David; Barenstein, Matias - 2004
-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/10010262166
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Child Expenditure: The Role of Working Mothers, Lone Parents, Sibling Composition and Household Provision
Farrell, Lisa; Shields, Michael A. - 2001
This paper uses detailed diary information from the British Family Expenditure Survey (FES) to investigate the expenditure patterns of school-age children. We estimate a Quadratic Almost Ideal Demand System, and find that, whilst most commodities are normal goods, sweets and toys are luxury...
Persistent link: https://www.econbiz.de/10010262592
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An Afriat theorem for the collective model of household consumption
Cherchye, Laurens; De Rock, Bram; Vermeulen, Frederic - 2008
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...
Persistent link: https://www.econbiz.de/10010269151
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Non-unitary models of household behavior: a survey of the literature
Chiappori, Pierre-André; Donni, Olivier - 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/10010269486
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Kinky choices, dictators and split might: a non-cooperative model for household consumption and labor supply
Boone, Jan; van der Wiel, Karen; 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/10010277211
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Consumer Search Costs and Preferences on the Internet
Jolivet, Grégory; Turon, Hélène - 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/10010468167
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Consumer Search Costs and Preferences on the Internet
Jolivet, Grégory; Turon, Hélène - Institute for the Study of Labor (IZA) - 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/10011078385
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Gambling and the use of credit: an individual and household level analysis
Brown, Sarah; Dickerson, Andy; McHardy, Jolian; Taylor, Karl - 2010
We explore the relationship between gambling and other forms of risk-taking behaviour, i.e. exposure to debt and the … use of credit, at the individual and household level using representative pooled cross-section data drawn from the UK … Expenditure and Food Surveys (EFS), 2001 to 2007. Gambling and the use of credit are shown to be positively correlated at the …
Persistent link: https://www.econbiz.de/10010271301