We conducted an experiment to collect data on consumption decisions made by children of different age categories. In particular, our experiment involves unsophisticated discrete consumption choices, and we present a rationality test that is specifically designed for the resulting choice data....

We propose a method to quantify the willingness-to-pay for the consumption of others in group decisions. Our method is based on revealed preference theory. It measures willingness-to-pay for others' consumption by evaluating positive consumption externalities in monetary terms. Within the...

We conducted an experiment to collect data on consumption decisions made by children of different age categories. In particular, our experiment involves unsophisticated discrete consumption choices,and we present a rationality test that is specially designed for the resulting choice data. Our...