This research investigates how the valuation of delayed consumption of hedonic products, such as concerts and chocolate, varies with the passage of time between choice and consumption. The authors find that when consumers make their own choices, they exhibit increases in evaluations of delayed...

In counting the poor, and measuring the severity of absolute poverty, one faces a number of difficult questions. What poverty line should be used? Should one use the same poverty line across all countries? How should one adjust for differences across countries in the purchasing power of their...