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We study a patient-doctor-laboratory relationship in which the doctor's treatments are credence goods, clinical laboratory tests can provide information to mitigate issues arising from asymmetric information between the doctor and the patient, and the doctor plays the dual role of service...
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washing machines two approaches are compared. The first focuses in the manner of household production theory on changes in …How can economic theory explain the reasons why consumers adopt innovations? Using the example of innovations in …
Persistent link: https://www.econbiz.de/10010286759
Mathematical tractability has restricted economic analysis of consumer behavior within a confined boundary of certain axioms. Often, these axioms are found to be empirically false. Even more importantly, these axioms and the analytical framework based on them is incapable of explaining economic...
Persistent link: https://www.econbiz.de/10013001804
washing machines two approaches are compared. The first focuses in the manner of household production theory on changes in …How can economic theory explain the reasons why consumers adopt innovations? Using the example of innovations in …
Persistent link: https://www.econbiz.de/10009236027
way a single representative household would behave. This analytical approach requires that incentives of the poor and the … available at the household level, and individuals living in multimember households have the potential to share goods within the … household. The analytical approach of modern macroeconomics would require that intra-household sharing is also strictly aligned …
Persistent link: https://www.econbiz.de/10010298407
bias related to household structure and dynamics. In household economies, tasks are often concentrated among a subset of … the household members, so individual differences in behavior are related to performing different roles within the … household. When the sampling involves selecting individuals from within households, a tendency to choose certain types of …
Persistent link: https://www.econbiz.de/10014130662
This paper shows empirical evidence in favor of forward-looking household consumption--that consumption today depends … directly on household-specific ex-ante expectations of future income. This analysis is unique in using a direct consumption … measure combined with an ex-ante household-specific measure of expected future income, constructed from detailed survey and …
Persistent link: https://www.econbiz.de/10014207124