Der Faktor Zeit spielt in der ökonomischen Theorie eine wichtige Rolle - intertemporale Entscheidungen sind in allen Bereichen der Wirtschaftstheorie und -politik relevant. In der überwiegenden Zahl der Fälle stützt man sich dabei auf das sogenannte Discounted-utility-Modell (DU-Modell), in...

The paper suggests that casting the choice problem in terms of alternative time-consuming activities can foster the fruitful cross-fertilization between economics and psychology along the lines suggested by Scitovsky in the Joyless Economy. The first part emphasizes how mainstream, utility-based...

Using a framework that distinguishes short-term consumer preferences, individual reflective preferences and political preferences, we discuss from a constitutional economics perspective whether individuals find it in their common constitutional interest to endow representatives and bureaucrats...

This paper examines the Engel curve for major expenditure categories and estimates equivalence scales for Bangladesh. We compare Engel curves estimated by semi-parametric techniques to those arising from models based on consumer theory. Our analysis supports the argument that quadratic food...

Aggregate data reveal that advertising in the U.S. absorbs approximately 2% of GDP and has a well defined pattern over the business cycle, being strongly procyclical and highly volatile. Because the purpose of brand advertising is to foster sales, we ask whether such spending has an appreciable...

Consider an economic model whose equilibrium can be represented as the fixed point of a system of differentiable equations. Using the theory of B-matrices, I show that comparative statics are well-behaved if the interactions between the equations are not too large, and the negative interactions...

The paper shows that cardinal utility entered economic analysis during the Ordinal Revolution initiated by Pareto and not, as many popular histories of utility theory assume, before it. Cardinal utility was the outcome of a discussion begun by Pareto about the capacity of ranking transitions...

Research regarding child support typically focuses on the effects of child support awards and its underlying principles within child support models. However, researchers have invested little effort in the analysis of child support guideline comparisons or in the development of analyses to...

The purpose of this paper was to find out if Costco’s treasure hunt strategy was effectively attracting customers and increasing spending per visit. It was an exploratory research to provide insights in the perceptions of Costco customers in reference to new, seasonal, and premium...

This study considers Filipino consumers living in two different places and the degree to which they are aware of the eight basic consumer rights and whether there are significant differences in their level of awareness. The eight consumer rights are: Right to basic needs, Right to safety, Right...