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 …

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 …

-separable utility functions …

the current level of consumption. The kinks in the curves imply that the utility function is not differentiable everywhere …

construct an alternative business-cycle model capturing these two features by adding two assumptions to a money-in-the-utility …-function model: the labor market is subject to matching frictions, and real wealth enters the utility function. These assumptions … which inflation is fixed and not determined by a forward-looking Phillips curve. With wealth in the utility, the Euler …

utility function curvature. We present a new methodology for identifying time preferences, both discounting and utility … obtained, dynamically consistent discounting, and limited though significant utility function curvature …

augmenting the standard power utility function with a time-varying subsistence level, or "external habit", that adapts …