The prevailing view held at contemporary Polish universities is that their main goal is to achieve effects measured by indicators, which applies to each element of their mission: education, research and the third mission, whereas the means to accomplish this goal consists of increasing the...

Focusing theory hypothesizes a bias toward concentration according to which consumers prefer goods with one outstanding feature over those with several smaller sized upsides. In contrast to models of present-biased behavior, focusing theory prescribes also future-biased behavior if an option's...

We study markets for sensitive personal information. An agent wants to communicate with another party but any revealed information can be intercepted and sold to a third party whose reaction harms the agent. The market for information induces an adverse sorting effect, allocating the information...

In this paper I consider how individuals allocate their time between church attendance (and other religious activities) and secular leisure activities. Moreover individuals use a cognitive style, which is either intuitive-believing or reflective-analytical. I assume that the full benefit from...

It is shown how one can effectively use cross-section data in modelling the change over time in aggregate consumption expenditure of a heterogeneous population. The starting point of our aggregation analysis is a dynamic behavioral relation on the household level. Based on certain hypotheses on...

We propose a novel structural method to empirically identify economies of scale in household consumption. We assume collective households with consumption technologies that define the public and private nature of expenditures through Barten scales. Our method recovers the technology by solely...

This paper analyzes optimal hedging of a tradable risk (e.g. price risk or exchange rate risk) with forward contracts in the presence of untradable inflation risk. Utility is defined over real wealth. Optimal forward positions are derived relative to a given initial exposure in the tradable...

This paper presents a simple, utility-based model in which situational cues compel an agent to consider the associated consumption decision. The premise gives rise to a unified account of the endowment effect and present bias that, unlike prevailing theories based on inconsistent preferences,...

I present a theoretical model of addiction in which cravings are costly distractions that force the individual to “think about” the associated consumption decision. By allowing choices to influence the frequency of future cravings, the model emphasizes new incentives and disincentives;...