measure income risk as the observed variation of household income over a five year period. We find that indeed higher income … subjective measures of a household's financial situation (income satisfaction, worries about financial situation), the impact of …We investigate the determinants of a household's decision on whether to invest in risky financial assets. Financial …

an 'iceberg' specification. In our model, agents differ by income. A commuting costs are paid as a fraction of income, it … income - income net of land rent and commuting costs. First, we will derive the comparative statics of the equilibrium … selection, which should magnify income inequality in the city. We have no a'priori intuition for the direction of change in …