We examine spending on consumption items which have signaling value in social interactions across groups with distinctive social identities in India, where social identities are defined by caste and religious affiliations. The classification of such items was done by eliciting responses to a...

We examine spending on consumption items which have signaling value in social interactions across groups with distinctive social identities in India, where social identities are defined by caste and religious affiliations. The classification of such items was done by eliciting responses to a...

In this paper it is shown that the intratemporal and intertemporal preferences of each decision maker in the household can be identified even if individual consumption is not observed. This identification result is used jointly with the Consumer Expenditure Survey (CEX) to estimate the...

We propose a method to quantify other-regarding preferences in group decisions. Our method is based on revealed preference theory. It measures willingness-to- pay for others’ consumption and willingness-to-pay for equality in consumption by evaluating consumption externalities in monetary...

The literature documents hump-shaped life-time consumption profiles for individuals. Based on evidence found by prior sociological and psychological studies, we argue that individuals' age-dependent demands for conveying social statuses could be a novel factor that contributes to this pattern....

India has been one of the fastest emerging markets in the world and Employees rightfully are one of the most important resources of economy. It is imperative that corporate pay due respect to Human Resources' and keep them motivated for mutual benefits. There are numerous incentives and perks...

We introduce uncertainty in our general equilibrium model with multi-member groups, following the classical state-space approach of Arrow-Debreu. A host of new interesting economic issues emerge. First, risk averse agents can attempt to insure themselves through markets or through mutual...

This paper analyzes a general-equilibrium model in which each person can choose to be either a producer or a predator. This model shows how predation breaks the link between the interpersonal distribution of productive resources and the interpersonal distribution of consumption. Specifically, we...