This paper examines how students’ characteristics affect their level of satisfaction with their academic degree. For this analysis we draw data from a survey answered by graduate students. This survey was conducted at a public university in Spain from 2001 to 2004. The fact that students...

In this paper, we analyze how the introduction of habits and aspirations affects the distribution of wealth when individuals’ labor productivity is subject to idiosyncratic shocks and bequests arise from a joy-of-giving motive. In the presence of either bequests or aspirations, labor income...