Efforts to reconcile inconsistencies between theory and estimates of the income elasticity of the value of a … how exogenous income shocks, such as unexpected medical expenditures, may affect labor supply decisions which in turn … influence both the coefficient of relative risk aversion and the IEVSL. The presence of a consumption commitment, such as a home …

utility model. I derive a formula for the coefficient of relative risk aversion (g) in terms of (1) the ratio of the income …This paper shows that existing evidence on labor supply behavior places an upper bound on risk aversion in the expected …

This paper develops a method of estimating the coefficient of relative risk aversion (g) from data on labor supply. The … beyond those of expected utility theory. It is shown that the curvature of the utility function is directly related to the … ratio of the income elasticity of labor supply to the wage elasticity, holding fixed the degree of complementarity between …

Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in …' coefficients of relative risk aversion (CRRA's) in excess of one, and often significantly higher. However, it can be shown that … high CRRA's imply equally high values for the income elasticity of the value of a statistical life. Yet estimates of this …

restrictions that the theory imposes on the joint behavior of consumption and income growth, and combining realizations and …We review different empirical approaches that researchers have taken to estimate how consumption responds to income … changes. We critically evaluate the empirical evidence on the sensitivity of consumption to predicted income changes …

Since Feldstein (1999), the most widely used method of calculating the excess burden of income taxation is to estimate … the effect of tax rates on reported taxable income. This paper reevaluates the taxable income elasticity as a measure of … taxable income and total earned income elasticities, with the weight determined by the marginal resource cost of sheltering …

risk of fatal hazards is fraught with problems. The theoretical basis for such estimates are flawed in a number of … not look like the perfectly competitive model on which the theory depends for its conclusions. Further, there are many …

individual requires to accept increased occupational fatality risk. We derive a relationship between the value of a statistical … status or quality of life and anticipated longevity threats lead to significant differences in the estimated wage/risk … anticipated longevity threats, help to explain the diversity in past studies examining how the estimated wage-risk tradeoff …