durable goods. We show that consumers' utility and discount functions in a dynamic discrete choice model are jointly … identified using data generated by this specific design. In contrast, based on revealed preference data, the utility and discount …

' utility functions and the concavity of the social welfare function. In the pertinent literatures, notably on optimal income …, however, reveals that this is not the case. Concavity of utility has a simple, direct effect on the marginal social value of … cases may not be very significant. The implications of this difference are examined for some standard forms of utility and …

wealth into the utility function; the justification is that wealth is a marker of social status, and people value status …. Since people partly save to accrue social status, the Euler equation is modified. As a result, when the marginal utility of …

such demand systems are integrable, i.e. can be derived from the maximization of a well-behaved utility function. This …

substitution among commodities in utility functions. We then use the evidence of price discrimination in product markets against …

. We first consider a simple model with utility functions linear in consumption and featuring heterogeneous utility for … incomes. Second, we show how these results can be extended to the case with concave utility for consumption. The same types of … using a new and non standard steady state approach that respects individual preferences even with a fully general utility …

paper, we argue that a stable utility function defined over consumption and leisure can account for this fact, jointly with … displaying balanced growth. The key feature of the utility function is an income effect (of higher wages) that slightly outweighs …

introduces health-dependent utility into a model in which preferences for bequests, expenditures when in need of long-term care …