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. Hence, household consumption is not only determined by habit persistence but also by interpersonal comparisons. Most …
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Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption asymmetry are usually considered as mutually exclusive....
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Resource shares, defined as the fraction of total household spending going to each person in a household, are important … is measured typically at the household level, and many goods are jointly consumed, so that individual-level consumption …
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In the present paper, we adopt the collective approach to consumer behavior - which supposes that each household member … conditional demand ('m-demand') framework in which household demands are directly derived from the marginal rates of substitution …. We show that (i) household demands have to satisfy testable constraints and (ii) some elements of the decision process …
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with household bargaining explanations. For couples with children, improved women’s household bargaining position is …
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