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 …

Exchange rates depreciate by the difference between the domestic and foreign marginal utility growths. Exchange rates … vary a lot , as much as 10% per year. However, equity premia imply that marginal utility growths vary much more, by at … least 50% per year. This means that marginal utility growths must be highly correlated across countries -- international …

US. There are two potential explanations. First, Europeans prefer more equal societies (inequality belongs in the utility …

income. Stratification and sorting often manifest state-dependent preferences in which the marginal utility of income … before location is chosen, the a priori von Neuman-Morgenstern utility function over both choices can take the Friedman …

This paper studies household asset demands by allowing certain assets to contribute directly to utility. It estimates … the parameters of an aggregate utility function which includes both consumption and liquidity services.These liquidity …

The Stone-Geary utility function defined over an index of goods, the leisure of the husband, and the leisure of the … wife is used to derive the earnings functions of the husband and the wife. The parameters of the utility function are … problems. The effect of family composition on utility is estimated by specifying and estimating adult equivalents in …

' choices. Because social recognition generates utility from esteem to some but disutility from shame to others, it can be … either positive-sum, zero-sum, or negative-sum. This depends on whether the social recognition utility function is convex … find that the social recognition utility function is significantly concave and thus generates deadweight loss. If our …

present paper evaluates these approaches, comparing the CES gains to those obtained using a quadratic utility function using … than those obtained using the quadratic utility function …