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Estimating intertemporal and intratemporal substitutions when both income and substitution effects are present: the role of durable goods
pakos, michal - Volkswirtschaftliche Fakultät, … - 2011
. I find potent support in favor of nonhomotheticity in aggregate consumption data, with nondurable goods being …
Persistent link: https://www.econbiz.de/10009220097
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Consumption of durable goods under ambiguity
Moreno, Othón M. - 2014
The focus of this paper is to analyze the effect that ambiguity will have on the buyer's reservation price and the value of the option to purchase the durable good with an embedded option to resell it. The agent is assumed to be risk neutral and ambiguity averse. The problem is formulated as an...
Persistent link: https://www.econbiz.de/10010243419
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Dynamic demand for new and used durable goods without physical depreciation : the case of Japanese video games
Ishihara, Masakazu; Ching, Andrew - 2016 - This draft: September 8, 2016
selling decisions. The estimation results show that potential buyers' consumption value from a game deteriorates by 50% from … the release week to the second week, and game owners' consumption value deteriorates by 22-49% after the first week of …
Persistent link: https://www.econbiz.de/10012245077
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Environmental policy instruments for investments in backstop technologies under present bias - an application to the building sector
Arnold, Fabian; Novirdoust, Amir Ashour; Theile, Philipp - 2023
Governments worldwide have set targets to reduce greenhouse gas emissions from the residential sector to zero. Policy instruments, such as carbon pricing or subsidies, are being discussed and implemented to achieve these targets. If individuals exhibit present bias, Heutel (2015) has shown that...
Persistent link: https://www.econbiz.de/10014327643
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Optimal portfolio choice with predictability in house prices and transaction costs
Corradin, Stefano; Fillat, José L.; Vergara-Alert, Carles - 2012
We generalize the classic Grossman and Laroque (1990) (GL) model of optimal portfolio choice with housing and transaction costs by introducing predictability in house prices. As in the GL model, agents only move to more expensive (cheaper) houses when their wealth-to-housing ratios reach an...
Persistent link: https://www.econbiz.de/10011605515
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Optimal Dynamic Choice of Durable and Perishable Goods
Bank, Peter; Riedel, Frank - 2003
We analyze the life cycle consumption choice model for multiple goods, focusing on the distinction between durables and … good, the optimal consumption plan is not myopic. Instead, it depends on past as well as on (expected) future prices. The … consumption of perishables ceases to be myopic as well. The solutions show that durables play an important part in intertemporal …
Persistent link: https://www.econbiz.de/10010263097
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Environmental policy instruments for investments in backstop technologies under present bias - An application to the building sector
Arnold, Fabian; Novirdoust, Amir Ashour; Theile, Philipp - 2023
Governments worldwide have set targets to reduce greenhouse gas emissions from the residential sector to zero. Policy instruments, such as carbon pricing or subsidies, are being discussed and implemented to achieve these targets. If individuals exhibit present bias, Heutel (2015) has shown that...
Persistent link: https://www.econbiz.de/10014494913
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Consumption of durable goods under ambiguity
Moreno, Othón M. - 2014
The focus of this paper is to analyze the effect that ambiguity will have on the buyer's reservation price and the value of the option to purchase the durable good with an embedded option to resell it. The agent is assumed to be risk neutral and ambiguity averse. The problem is formulated as an...
Persistent link: https://www.econbiz.de/10010392380
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Debt portfolios
Hintermaier, Thomas; Koeniger, Winfried - 2009
We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by durables whereas unsecured debt can be discharged in bankruptcy procedures. We show that the model matches the main quantitative characteristics of observed wealth and debt...
Persistent link: https://www.econbiz.de/10003850601
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Debt portfolios
Hintermaier, Thomas; Koeniger, Winfried - 2011
We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...
Persistent link: https://www.econbiz.de/10009244090