Showing 1 - 10 of 12,437
In this paper I extend the well known result that a hyperbolically discounting agent postpones costs into the future …
Persistent link: https://www.econbiz.de/10011422111
view. It is argued that although a terrorist gives up future utility from consumption by committing a suicide attack, this … loss can be overcompensated by the utility he derives from the attack. Some individual cases of suicide bombers are … psychological concepts of cognitive dissonance and terror management theory into our economic analysis, we demonstrate why …
Persistent link: https://www.econbiz.de/10011753170
The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...
Persistent link: https://www.econbiz.de/10011753192
An axiomatic construction for lifecycle preferences accounting for the finiteness and the randomness of life duration is provided. We emphasize the role of intertemporal correlation aversion and explain why multiplica- tive preferences provide an interesting alternative to additive preferences,...
Persistent link: https://www.econbiz.de/10011753219
-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility (wanting) are disentangled from the …
Persistent link: https://www.econbiz.de/10010286755
This paper analyses the effect of individual risk aversion and time preference on cross-border commuting and migration intentions. Both the theoretical and empirical results show that the probability of being willing to migrate decreases with risk aversion, the rate of time preference, and the...
Persistent link: https://www.econbiz.de/10011435297
Persistent link: https://www.econbiz.de/10012503187
On the basis of a concatenation of fifteen Belgian household budget surveys from 1995/96 to 2010, we investigate the impact of demographic factors, such as ageing and changing household composition, on saving behaviour. Not focusing on high frequency events (e.g. business cycles and unexpected...
Persistent link: https://www.econbiz.de/10011506806
In economic theory, utility depends on past, present and future outcomes. The experiment described in this paper … suggests that utility also depends on people's attitudes, and that it can easily be manipulated through these attitudes. The … results imply, first, that purely outcome-based models of individual utility may be incomplete. Second, that reference …
Persistent link: https://www.econbiz.de/10010263885
The concept of utility is often used in ambiguous ways in economics, from having substantive psychological connotations … conceive of utility. It turns out that empirical evidence does not favor a view of multidimensional utility. This does not … eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. …
Persistent link: https://www.econbiz.de/10010267093