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Preference Parameters and Behavioral Heterogeneity : An Experimental Approach in the Health and Retirement Survey
Barsky, Robert B. - 1995
Individuals' preferences underlying most economic behavior are likely to display substantial heterogeneity. This paper reports on direct measures of preference parameters relating to risk tolerance, time preference, and intertemporal substitution. These experimental measures are based on survey...
Persistent link: https://www.econbiz.de/10012473664
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Explaining the Rise in Youth Suicide
Cutler, David M. - 2000
Suicide rates among youths aged 15-24 have tripled in the past half-century, even as rates for adults and the elderly have declined. And for every youth suicide completion, there are nearly 400 suicide attempts. This paper examines the dynamics of youth suicide attempts and completions, and...
Persistent link: https://www.econbiz.de/10012471048
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Transfer Motives and Tax Policy
Kaplow, Louis - 1999
This paper considers the optimal tax treatment of voluntary transfers to individuals in a" framework that integrates redistributive income taxation and estate and gift taxation. Under this" formulation, redistributive considerations become secondary. The optimal tax treatment of" transfers...
Persistent link: https://www.econbiz.de/10012471814
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The Shape of Temptation : Implications for the Economic Lives of the Poor
Banerjee, Abhijit - 2010
observed behaviors of the poor. Temptation goods are defined to be the set of goods that generate positive utility for the self …
Persistent link: https://www.econbiz.de/10012462679
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Who Owns Children and Does it Matter?
Schoonbroodt, Alice - 2010
Is there an economic rationale for pronatalist policies? In this paper we propose and analyze a particular market failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The friction we investigate is related to the ownership of...
Persistent link: https://www.econbiz.de/10012462988
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Utility from Accumulation
Kaplow, Louis - 2009
The possibility that individuals may derive utility from the mere fact of holding wealth has long been recognized. A … simple intertemporal model featuring utility from accumulation is used here to examine consumption and savings, the choice … utility from accumulation helps to explain a number of empirical regularities that otherwise seem inconsistent with optimizing …
Persistent link: https://www.econbiz.de/10012463054
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Scarcity of Ideas and R&D Options : Use it, Lose it or Bank it
Erkal, Nisvan - 2009
We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random times. By foregoing investment in a current idea, society as a whole preserves an option to invest in a better idea for the same market niche, but with delay. Because successive...
Persistent link: https://www.econbiz.de/10012463708
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Voluntary Provision of Public Goods for Bads : A Theory of Environmental Offsets
Kotchen, Matthew J. - 2007
This paper examines voluntary provision of a public good that is motivated, in part, to compensate for other activities that diminish the public good. Markets for environmental offsets, such as those that promote carbon neutrality to minimize the impact of climate change, provide an increasingly...
Persistent link: https://www.econbiz.de/10012464996
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International Portfolio Diversification with Generalized Expected Utility Preferences
Aizenman, Joshua - 1997
expected utility (GEU) to the diversification of agents who maximize the conventional expected utility (EU). Specifically, we … derive the patterns of diversification for agents who maximize a rank-dependent' expected utility, attaching more weight to … bad' than to good' outcomes, in contrast to the probability weights used in a conventional expected utility maximization …
Persistent link: https://www.econbiz.de/10012472856
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Self-Fulfilling Debt Dilution : Maturity and Multiplicity in Debt Models
Aguiar, Mark A. - 2018
We establish that creditor beliefs regarding future borrowing can be self-fulfilling, leading to multiple equilibria with markedly different debt accumulation patterns. We characterize such indeterminacy in the Eaton-Gersovitz sovereign debt model augmented with long maturity bonds. Two...
Persistent link: https://www.econbiz.de/10012453037