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Thompson aggregator may be associated with many intertemporal utility functions (which may not be ordinally equivalent). The … depend on the particular utility function representation of the underlying Thompson aggregator preference structure …
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Utility function depending on both consumption and savings, which may also be motivated as one that captures a direct …
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Work ethics affect labour supply. This idea is modelled assuming that work is habit forming. We introduce working habits in a neoclassical growth model and compare its outcomes with a model without habit formation. In addition, we analyse the impact of different forms of technical progress. The...
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Work ethics affects labor supply. This idea is modeled assuming that work is habit forming. This paper introduces working habits in a neoclassical growth model and compares its outcomes with a model without habit formation. In addition, it analyzes the impact of different forms of technical...
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