We investigate how childbirth affects intrahousehold resource allocation for married Japanese couples. We develop reduced-form and structural-form specifications from a unified theoretical framework. Under a weak set of assumptions, we can focus on private goods to track the changes in...

Myopia is important in environmental and resource management problems because they often involve intertemporal decisions over a long time horizon. We present a parsimonious extension of a standard dynamic programming equation in a continuous time and continuous state setting, which enables rich...