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Choosing the Joneses : Endogenous Goals and Reference Standards

Knell, Markus; Falk, Armin - 2004

A growing economic literature stresses the importance of relative comparisons, e.g., for savings and consumption or happiness. In this literature it is usually assumed that reference standards against which people compare themselves are exogenously given. In contrast findings from social...

Persistent link: https://www.econbiz.de/10010261901

Arranged' marriage, co-residence and female schooling: a model with evidence from India

Dasgupta, Indraneel; Maitra, Pushkar; Mukherjee, Diganta - 2008

We model the consequences of parental control over choice of wives for sons, for parental incentives to educate daughters, when the marriage market exhibits competitive dowry payments and altruistic but paternalistic parents benefit from having married sons live with them. By choosing uneducated...

Persistent link: https://www.econbiz.de/10010268922

Choices which change life satisfaction: Revising SWB theory to account for change

Headey, Bruce; Muffels, Ruud; Wagner, Gert G. - 2010

on life satisfaction. The results have negative implications for the still dominant theory of SWB, set-point theory. This … theory holds that adult SWB does not change in the medium or long term, although temporary fluctuations occur due to specific … life events. Set-point theory has come under increasing criticism in recent years, primarily due to unmistakable evidence …

Persistent link: https://www.econbiz.de/10010269839

Moody choice

Manzini, Paola; Mariotti, Marco - 2010

If choices depend on the decision maker's mood, is the attempt to derive any consistency in choice doomed? In this …

Persistent link: https://www.econbiz.de/10010269873

Generational accounting, solidarity and pension losses

Teulings, Coen N.; de Vries, Casper G. - 2003

resolved by the introduction of generational accounts. Using modern portfolio and consumption planning theory we show that the …

Persistent link: https://www.econbiz.de/10010261654

Time, money, peers, and parents : some data and theories on teenage behavior

Kooreman, Peter - 2003

In the first part of the paper I analyze a data set on teenage behavior. The data is a sample of high school students in the Netherlands, and contains information on teenage time use, income, expenditures, and subjective measures of well-being and self-esteem. As all students in a sampled class...

Persistent link: https://www.econbiz.de/10010261636

On the Inefficiency of Inequality

Schiff, Maurice - 2004

A number of studies have examined the implications of preference interdependence. This paper models utility as depending on other people?s consumption levels and shows that welfare declines with inequality, equilibrium inequality is inefficient, and the optimal intervention leads to a more equal...

Persistent link: https://www.econbiz.de/10010262032

From Severance Pay to Self-Insurance: Effects of Severance Payments Savings Accounts in Colombia

Kugler, Adriana D. - 2002

In 1990 Colombia replaced its traditional system of severance payments with a new system of severance payments savings accounts (SPSAs). Although severance payments often are justified on the grounds that they provide insurance against earnings loss, they also increase costs for employers and...

Persistent link: https://www.econbiz.de/10010262813

Fungibility, labels, and consumption

Abeler, Johannes; Marklein, Felix - 2008

Fungibility of money is a central principle in economics. It implies that any unit of money is substitutable for another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple, incentivized setup many subjects do not treat money as...

Persistent link: https://www.econbiz.de/10010268624

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