With Saudi Arabia's tendency to implement a policy of economic openness to the world from the early 1980s, the phenomenon of conspicuous consumption (society of consumption and imitation) has increased. Due to the adoption of the concepts of economic globalization, changing consumption patterns,...

We adopt the collective approach to consumer behavior with egoistic agents, and assume that the household consumption is either private or public. We then show that (i) household demands have to satisfy testable constraints and (ii) some elements of the decision process can be retrieved from...

Complex economic problems often lack the structure for the application of standard comparative statics techniques. Generalized Monotonicity Analysis (GMA) extends usual methods in several directions. First, it provides a new way of endogenously generating parameter moves that yield monotonicity....

We extend the nonparametric 'revealed preference' methodology for analyzing collective consumption behavior (with consumption externalities and public consumption), to render it useful for empirical applications that deal with welfare-related questions. First, we provide a nonparametric...

We investigate deterministic stochastic choice in the standard consumer framework. We present a model of statistical consumer theory where the individual maximizes their utility with respect to a distribution of bundles that is constrained by a statistic of the distribution (e.g. mean...

We investigate the dynamic consumption and portfolio selection problem of an agent who has an intertemporal preference with loss and risk aversion, as proposed by Choi et al. (2019a). We disentangle the effects of loss aversion from those of risk aversion on risk taking. We show by simulation...

The paper explicitly discusses the key differences between a demand for consumables and demand for (non-consumable) credit money. For example, in contrast to consumables, money cannot be demanded by only one agent; it is a stock variable; credit requires special arrangements to implement trust...

This paper analyzes sin goods consumption when individuals exhibit present-focused preferences. It considers three types of present focus: present-bias with varying degrees of naiveté, Gul-Pesendorfer preferences, and a dual-self approach. We investigate the incentives to deviate from healthy...

The standard continuous-time version of discounted utility does not possess the local inter-temporal substitution property (quantities consumed in nearby dates should be close substitutes, not complements), and hence does not define a continuous functional in the space of consumption paths. The...

We identify necessary and sufficient conditions under which a coarse data set can be coarsely rationalized by a linear order (or weak order). The conditions are easy to check, and efficient algorithms are provided. We apply our theory to investigate the observable restrictions of several...