Every epoch seems to be characterized by a world view of what is good and desirable for society, and the present pursuit of development, and more recently sustainable development, reflects this world view. Consequently, despite the vast expansion in the world?s capacity to produce material goods...

How people make choices in relation to cultural and leisure consumption has been explored from the viewpoint of motivation, lifestyle segmentation, and lifecycle. Little is known about the specific characteristics associated with choices to visit, re-visit, or not to visit a museum....

When preferences are homothetic, utility can be expressed in terms of current consumption and a variable that captures all information about future opportunities. We use this observation to express the differential equation that characterizes utility as a restriction on the information variable...

This paper applies a factor model to the study of risk sharing among U.S. states. The factor model makes it possible to disentangle movements in output and consumption due to national, regional, or state-specific business cycles from those due to measurement error. The results of the paper...

This paper presents tractable and efficient numerical solutions to general equilibrium models of asset prices and consumption where the representative agent has recursive preferences. It provides a discrete-time presentation of the approach of Fisher and Gilles (1999), treating continuous-time...

We develop an infinite time horizon, continuous time model of portfolio choice and consumption allocation for an investor seeking to maximize the expected utility of his life-time consumption. In this model, the investor is endowed with capital that can be invested in long-lived capital assets...

My project "How Green is the Mouse?" analyses the ways in which the Disney Company utilizes various green marketing strategies in an effort to appeal to the growing number of eco-conscious consumers. My study examines different strategies of green marketing and evaluates the use of these...

Culture Jammers, an activist guerilla-like movement, entered the global scene in the 1990s and, through public performances, attempt to draw attention to their claim that the US economic structure is facing a fundamental need to shift away from a consumer-oriented capitalist economy. As an...

If asset returns are predictable, then rational expectations and the arithmetic of budget constraints together imply that these predictable changes in returns should affect current consumption. This paper presents a new framework linking consumption, income, and observable assets to expectations...

In this paper, we suggest a collective model with parents and (young) children. We identify and estimate scale economies in households and the sharing rule between husband, wife and children. While adult shares and economies of scale are identi?ed thanks to the estimation of individual Engel...