investment subsidy can be useful in order to reduce consumption and to increase investment, growth, and welfare of the long …-run self. A consumption tax, perhaps surprisingly, is counterproductive. It induces individuals with limited self-control to …

investment subsidy can be useful in order to reduce consumption and to increase investment, growth, and welfare of the long …-run self. A consumption tax, perhaps surprisingly, is counterproductive. It induces individuals with limited self-control to …

consumption. The parsimonious model has a closed-form solution for the age of peak consumption and the consumption level at that … age relative to initial consumption. A calibration of the model with data from gerontology produces an empirically … plausible hump in consumption. …

-homothetic utility and a variable elasticity of intertemporal substitution in consumption. …

theory in which individuals take into account the fact that the consumption of addictive goods reduces their health and … addiction develops. I argue that the life cycle consumption pattern predicted for common addiction is more suitable for … motivating empirically observable patterns of addictive goods consumption. I take the case of smoking as unhealthy behavior …

-strives for immediate gratification through consumption of food and other goods. The long-run self reflects the consequences of …

Does it make us unhappier when we compare our current consumption with that of the Joneses or our own past achievements … different assumptions, non-comparing utility, and inward-looking and outward-looking habit formation. Using consumption …

-homothetic utility and a variable elasticity of intertemporal substitution in consumption. …