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Is it really good to annuitize
Feigenbaum, James; Gahramanov, Emin - 2012
Although rational consumers without bequest motives are better oÞ investing exclusively with annuitized instruments in partial equilibrium, we demonstrate the welfare effect of annuitization is ambiguous in general equilibrium on account of the pecuniary externality. Accidental bequests improve...
Persistent link: https://www.econbiz.de/10009562237
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A dynamic model of rational "panic buying"
Noda, Shunya; Teramoto, Kazuhiro - In: Quantitative economics : QE ; journal of the … 15 (2024) 2, pp. 489-521
This paper analyzes panic buying of storable consumer products accompanied by disasters, using a novel consumer‐search theoretic equilibrium model where consumers follow (S,s) inventory policies. We show that, even if consumers are fully rational, an anticipated temporary increase in consumer...
Persistent link: https://www.econbiz.de/10015053142
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Are the Japanese unique? : evidence from household saving and bequest behavior
Horioka, Charles - 2016
In this paper, we attempt to shed light on whether Japanese households are rational or if their behavior is influenced by culture and social norms by examining their saving and bequest behavior. To summarize our main findings, we find that Japan's household saving rate showed great volatility,...
Persistent link: https://www.econbiz.de/10011478422
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Evolutionary economics and household behavior
Horioka, Charles - 2014
This paper provides an introduction to the field of evolutionary economics with emphasis on the evolutionary theory of … evolutionary theory of household behavior is to improve upon the neoclassical theory of household behavior by replacing the … neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390070
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Evolutionary economics and household behavior
Horioka, Charles - 2014
This paper provides an introduction to the field of evolutionary economics with emphasis on the evolutionary theory of … evolutionary theory of household behavior is to improve upon the neoclassical theory of household behavior by replacing the … neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390395
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Bounded irrationality : a new perspective on economic behavior
Stetzka, Robin - In: Review of behavioral economics 11 (2024) 1, pp. 1-42
Persistent link: https://www.econbiz.de/10014515103
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Jon Elster und das Problem lokaler Gerechtigkeit
Pies, Ingo; Viebranz, Jörg - 2007
Untersuchung ist zweigeteilt. Der erste Teil rekonstruiert Elsters Beiträge zu einer Theorie lokaler Gerechtigkeit. Der zweite Teil … betreffen zum einen den Erklärungsgehalt seiner Analysen ((4)). Sie betreffen zum anderen den normativen Ertrag seiner Theorie … lokaler Gerechtigkeit für eine allgemeine Theorie sozialer Gerechtigkeit ((5)). Der Beitrag endet mit einer abschließenden …
Persistent link: https://www.econbiz.de/10011758000
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Jon Elster und das Problem lokaler Gerechtigkeit
Pies, Ingo; Viebranz, Jörg - 2007
Persistent link: https://www.econbiz.de/10003565195
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Rationalizing Present and Future Bias
Lee, S. Kenneth - 2020
This paper rationalizes both present and future bias in a single expected utility framework. The model considers a situation where mortality risk depends on the current state of health. When the state transition satisfies total positivity of order 2, rational decision makers are shown to have...
Persistent link: https://www.econbiz.de/10012838928
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Household behaviour under rationing
FitzGerald, John D.; Kenny, Sean; Cermeño, Alexandra L. - In: National Institute economic review : journal of the … 263 (2023), pp. 6-26
Persistent link: https://www.econbiz.de/10014438248