Vorliegendes Arbeitspapier entwickelt auf einem in der Literatur dokumentierten Prozess aufbauendes Modellkonzept, das die Einstellungen der Kunden abbildet und den genannten Anforderungen entspricht.

This paper shows that preferences alone cannot explain the patterns reported in the literature.

Rejuveniles are "grown-ups who cultivate juvenile tastes in products and entertain-ment". In this note, we study a standard AK growth model of overlapping gener-ations populated by rejuveniles. For our purposes, rejuveniles are old agents whoderive utility from "keeping up" their consumption...

We explore connections between the certainty equivalent return (CER) functional and theunderlying utility function. Curvature properties of the functional depend upon how utilityfunction attributes relate to Hyperbolic Absolute Risk Aversion (HARA) type utility functions.If the CER functional is...

We study trade patterns in a pure exchange economy where preferences are symmetric up to taste intensity parameters. In a 2-person, 2-good endowment economy, then all endowments in a particular Edgeworth box rectangle require trading out of that rectangle. Under strictly quasi-concave...

We prove the existence of Pareto optimal allocations within sets of acceptableallocations when decision makers have probabilistic sophisticated variational pref-erences dened on random endowments in L1.[...]

We study ultimatum and dictator experiments where the first moverchooses the amount of money to be distributed between the playerswithin a given interval, knowing that her own share is fixed. Thus, thefirst mover is faced with scarcity, but not with the typical trade-off betweenher own and the...

Beyond its explanatory ambitions as positive science, economics has always had its normativeor applied branch that aims at providing advice about how man’s socio-economic conditionmight be improved. Under the name welfare economics the discipline’s normative branch hasbeen formalized, in the...

Informed or rational desire, capability and prudential value list views of well-being - mustaccommodate human limitations, as well as address issues about adaptation and paternalism. Theysometimes address adaptation by toughening the requirement(s) on those desires, satisfaction of...