When individuals compare themselves to those with the same wage-rate, status concerns–Keeping up with the Joneses–lead individuals to work who otherwise would have chosen not to, and, for them, well-being is a decreasing function of the wage rate.

The aim of this paper refers to the potential connection between Business Intelligence (B.I.) solutions considered as an Intelligent Solution (I.S.) used in the modern marketing activities and Customer Relationship Management (CRM) solutions, „working together” on influencing the consumer...

In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...

Individuals make systematic mistakes in their decisions, because they mispredict utility from choice options. When deciding, extrinsic attributes of choice options are more salient than intrinsic attributes. Adaptation is neglected, recollection of feelings is distorted, decisions are...

A framework is proposed for organizing phenomena related to the (mis)predictionof utility, in particular neglecting adaptation. A categorization is introduced that accounts forasymmetries in misprediction. In decision-making, goods and activities satisfying extrinsicdesires are more salient than...

Individuals make systematic mistakes in their decisions, because they mispredict utility from choice options. When deciding, extrinsic attributes of choice options are more salient than intrinsic attributes. Adaptation is neglected, recollection of feelings is distorted, decisions are...

In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...

In this paper, we build a renewed labour supply model in order to explain why the RMI recipients don't «fall in poverty traps» but on the contrary accept to work even for low wages. The standard consumption-leisure trade-off is extended : we consider that one needs a minimum consumption level...

Over the last year it has been unexceptional to watch the consumer coverage of problems related to the natural disasters created by the hurricanes. Outside of the Southern states, the national media and leaders of other consumer organizations spent a very large amount of time warning the...

We propose a formal description of individual preferences that captures a subsistence requirement in consumption in an otherwise standard constant-elasticity-ofsubstitution (CES) utility specification. We study how substitutability between the subsistence good and another good depends on the...