We investigate the effect of positional goods (goods for which one's consumption relative to others’ matters) on saving …, based on results from a life-cycle consumption/saving experiment. In a Group treatment, we allow inter-personal comparisons … by assigning subjects to groups and displaying rankings based partly on consumption. A baseline Individual treatment is …

consumption and investment levels. Treatment variables consist of the initial endowment of capital stock, the production … subject pool used, nor the method of implementing the infinite horizon. Sudden episodes of maximal consumption called binges …

This paper investigates the impact of peer observation on the consumption decisions of rural households in Thailand … deviation in their decisions. Thus, we find evidence for conformity. Further, we find that individual's consumption choice is …

This paper investigates the impact of peer observation on consumption decisions of rural households in Thailand using a … evidence for conformity. Further, we find that individual's consumption choice is influenced by the group choice controlling … unfamiliarity of the consumption good is counteracted by peer effects. We further show that the consumption choice is influenced by …

gains and report greater propensities to consume. A standard optimal consumption choice model, enriched with a rational but …

Some consumption opportunities are both indivisible and only valuable in particular tates of nature. The existence of … such state-dependent indivisible consumption opportunities influences a person’s risk attitudes. In general, people are not … risk averse anymore even if utility from divisible consumption is concave. I propose a definition of insurance in the …