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Author : Maurizio Mazzocco
Publisher :
ISBN 13 :
Total Pages : 206 pages
Book Rating : 4.:/5 (483 download)
Download or read book Essays on Household Intertemporal Behavior written by Maurizio Mazzocco and published by . This book was released on 2001 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maurizio Mazzocco
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Household Intertemporal Behavior written by Maurizio Mazzocco and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, a formal test of intra-household commitment is derived and performed. To that end, two models of household intertemporal behavior are developed. In both models, household members are characterized by individual preferences. In the first formulation, household decisions are always on the ex-ante Pareto frontier. In the second model, the assumption of intra-household commitment required by ex-ante efficiency is relaxed. It is shown that the full-efficiency household Euler equations are nested in the no-commitment Euler equations. Using this result, the hypothesis that household members can commit to future allocations of resources is tested using the Consumer Expenditure Survey. I strongly reject this hypothesis. It is also shown that the standard unitary framework is a special case of the full-efficiency model. However, if household members are not able to commit, household intertemporal behavior cannot be characterized using the standard life-cycle model. These findings have two main implications. First, policy makers can change household behavior by modifying the decision power of individual household members. Second, to evaluate programs designed to improve the welfare of household members, it would be beneficial to replace the standard unitary model with a characterization of household behavior that allows for lack of commitment.
Author : Maurizio Mazzocco
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Intertemporal Behavior and Household Structure written by Maurizio Mazzocco and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, the traditional household Euler equations are estimated for singles and separately for couples. Using the CEX and the PSID, I reject the Euler equations of couples, but I cannot reject the Euler equations of singles. To rationalize this result, I develop an intertemporal model with two features. First, household members are represented using individual preferences. Second, household members cannot commit to future allocations of resources. It is shown that an excess sensitivity test should generally reject the household Euler equations of couples, but not of singles. A test is then derived to evaluate the explanation given in this paper against alternative hypotheses using a proportionality condition which is specific to the intertemporal model introduced here. I cannot reject the rationalization provided in this paper.
Author : Masao Ogaki
Publisher : Springer
ISBN 13 : 9811064393
Total Pages : 211 pages
Book Rating : 4.8/5 (11 download)
Download or read book Behavioral Economics written by Masao Ogaki and published by Springer. This book was released on 2018-02-05 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is intended as a textbook for a course in behavioral economics for advanced undergraduate and graduate students who have already learned basic economics. The book will also be useful for introducing behavioral economics to researchers. Unlike some general audience books that discuss behavioral economics, this book does not take a position of completely negating traditional economics. Its position is that both behavioral and traditional economics are tools that have their own uses and limitations. Moreover, this work makes clear that knowledge of traditional economics is a necessary basis to fully understand behavioral economics. Some of the special features compared with other textbooks on behavioral economics are that this volume has full chapters on neuroeconomics, cultural and identity economics, and economics of happiness. These are distinctive subfields of economics that are different from, but closely related to, behavioral economics with many important overlaps with behavioral economics. Neuroeconomics, which is developing fast partly because of technological progress, seeks to understand how the workings of our minds affect our economic decision making. In addition to a full chapter on neuroeconomics, the book provides explanations of findings in neuroeconomics in chapters on prospect theory (a major decision theory of behavioral economics under uncertainty), intertemporal economic behavior, and social preferences (preferences that exhibit concerns for others). Cultural and identity economics seek to explain how cultures and people’s identities affect economic behaviors, and economics of happiness utilizes measures of subjective well-being. There is also a full chapter on behavioral normative economics, which evaluates economic policies based on findings and theories of behavioral economics.
Author : Maurizio Mazzocco
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Individual Rather Than Household Euler Equations written by Maurizio Mazzocco and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper it is shown that the intratemporal and intertemporal preferences of each decision maker in the household can be identified even if individual consumption is not observed. This identification result is used jointly with the Consumer Expenditure Survey (CEX) to estimate the intratemporal and intertemporal features of individual preferences. This paper is one of the first attempts to provide estimates of the wife's and husband's intertemporal preferences by taking into account that household behavior is the outcome of joint decisions. The empirical findings indicate that there is heterogeneity in intertemporal preferences between wife and husband. The identification and estimation results are important for at least two reasons. First, they suggest that to answer policy questions the household decision process should be characterized using one set of preferences for each decision maker. Second, the estimates of individual preferences provided in this paper can be used to evaluate policies aimed at affecting household intertemporal behavior.
Author : Alan Lewis
Publisher : Cambridge University Press
ISBN 13 : 1108547680
Total Pages : 1240 pages
Book Rating : 4.1/5 (85 download)
Download or read book The Cambridge Handbook of Psychology and Economic Behaviour written by Alan Lewis and published by Cambridge University Press. This book was released on 2018-02-15 with total page 1240 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has recently been an escalated interest in the interface between psychology and economics. The Cambridge Handbook of Psychology and Economic Behaviour is a valuable reference dedicated to improving our understanding of the economic mind and economic behaviour. Employing empirical methods - including laboratory and field experiments, observations, questionnaires and interviews - the Handbook provides comprehensive coverage of theory and method, financial and consumer behaviour, the environment and biological perspectives. This second edition also includes new chapters on topics such as neuroeconomics, unemployment, debt, behavioural public finance, and cutting-edge work on fuzzy trace theory and robots, cyborgs and consumption. With distinguished contributors from a variety of countries and theoretical backgrounds, the Handbook is an important step forward in the improvement of communications between the disciplines of psychology and economics that will appeal to academic researchers and graduates in economic psychology and behavioral economics.
Author : J. A. Molina
Publisher : Springer Science & Business Media
ISBN 13 : 1441994319
Total Pages : 195 pages
Book Rating : 4.4/5 (419 download)
Download or read book Household Economic Behaviors written by J. A. Molina and published by Springer Science & Business Media. This book was released on 2011-08-31 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Significant recent changes in the structure and composition of households make the study of the economic relationships within the household of particular interest for academics and policy-makers. In this context, Household Economic Behaviors, through its focus on theoretical and empirical chapters on a range of economic behaviors within the household, provides a new and timely viewpoint. Following the Introduction and one or two surveys which give a general background, the volume includes theoretical and empirical perspectives on allocation of available time within the household, monetary and non-monetary transfers between household members, and intra-household bargaining.
Author : Christina A. Roberto
Publisher : Oxford University Press, USA
ISBN 13 : 019939833X
Total Pages : 385 pages
Book Rating : 4.1/5 (993 download)
Download or read book Behavioral Economics and Public Health written by Christina A. Roberto and published by Oxford University Press, USA. This book was released on 2016 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral economics has potential to offer novel solutions to some of today's most pressing public health problems: How do we persuade people to eat healthy and lose weight? How can health professionals communicate health risks in a way that is heeded? How can food labeling be modified to inform healthy food choices? Behavioral Economics and Public Health is the first book to apply the groundbreaking insights of behavioral economics to the persisting problems of health behaviors and behavior change. In addition to providing a primer on the behavioral economics principles that are most relevant to public health, this book offers details on how these principles can be employed to mitigating the world's greatest health threats, including obesity, smoking, risky sexual behavior, and excessive drinking. With contributions from an international team of scholars from psychology, economics, marketing, public health, and medicine, this book is a trailblazing new approach to the most difficult and important problems of our time.
Author : Roger R. Betancourt
Publisher :
ISBN 13 :
Total Pages : 228 pages
Book Rating : 4.:/5 (89 download)
Download or read book An Econometric Analysis of the Household's Intertemporal Allocation Under Additive Preferences written by Roger R. Betancourt and published by . This book was released on 1970 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Harlan Nissen
Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.:/5 (29 download)
Download or read book Consistent and Inconsistent Intertemporal Behavior written by David Harlan Nissen and published by . This book was released on 1968 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : Elsevier
ISBN 13 : 0444633898
Total Pages : 749 pages
Book Rating : 4.4/5 (446 download)
Download or read book Handbook of Behavioral Economics - Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 749 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics
Author : George Loewenstein
Publisher :
ISBN 13 : 9780199257065
Total Pages : 320 pages
Book Rating : 4.2/5 (57 download)
Download or read book Intertemporal Choice written by George Loewenstein and published by . This book was released on 2002 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: George Loewenstein has been at the forefront of progress in bringing together the disciplines of economics and psychology. One area in which he has made a major contribution is in the analysis of intertemporal choice: the extent to which and reasons why we are prepared to defer some immediate benefit for a greater benefit at a later date. This volume includes Loewenstein's most important papers on the topic and an introduction which sets the papers in an overall framework, taking account of current work in this area.
Author : Baruch Fischhoff
Publisher : Springer Science & Business Media
ISBN 13 : 9401714061
Total Pages : 268 pages
Book Rating : 4.4/5 (17 download)
Download or read book Elicitation of Preferences written by Baruch Fischhoff and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists and psychologists have, on the whole, exhibited sharply different perspectives on the elicitation of preferences. Economists, who have made preference the central primitive in their thinking about human behavior, have for the most part rejected elicitation and have instead sought to infer preferences from observations of choice behavior. Psychologists, who have tended to think of preference as a context-determined subjective construct, have embraced elicitation as their dominant approach to measurement. This volume, based on a symposium organized by Daniel McFadden at the University of California at Berkeley, provides a provocative and constructive engagement between economists and psychologists on the elicitation of preferences.
Author : George Loewenstein
Publisher : Russell Sage Foundation
ISBN 13 : 1610443667
Total Pages : 584 pages
Book Rating : 4.6/5 (14 download)
Download or read book Time and Decision written by George Loewenstein and published by Russell Sage Foundation. This book was released on 2003-02-27 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do people decide whether to sacrifice now for a future reward or to enjoy themselves in the present? Do the future gains of putting money in a pension fund outweigh going to Hawaii for New Year's Eve? Why does a person's self-discipline one day often give way to impulsive behavior the next? Time and Decision takes up these questions with a comprehensive collection of new research on intertemporal choice, examining how people face the problem of deciding over time. Economists approach intertemporal choice by means of a model in which people discount the value of future events at a constant rate. A vacation two years from now is worth less to most people than a vacation next week. Psychologists, on the other hand, have focused on the cognitive and emotional underpinnings of intertemporal choice. Time and Decision draws from both disciplinary approaches to provide a comprehensive picture of the various layers of choice involved. Shane Frederick, George Loewenstein, and Ted O'Donoghue introduce the volume with an overview of the research on time discounting and focus on how people actually discount the future compared to the standard economic model. Alex Kacelnik discusses the crucial role that the ability to delay gratification must have played in evolution. Walter Mischel and colleagues review classic research showing that four year olds who are able to delay gratification subsequently grow up to perform better in college than their counterparts who chose instant gratification. The book also delves into the neurobiology of patience, examining the brain structures involved in the ability to withstand an impulse. Turning to the issue of self-control, Klaus Wertenbroch examines the relationship between consumption and available resources, showing, for example, how a high credit limit can lead people to overspend. Ted O'Donoghue and Matthew Rabin show how people's awareness of their self-control problems affects their decision-making. The final section of the book examines intertemporal choice with regard to health, drug addiction, dieting, marketing, savings, and public policy. All of us make important decisions every day-many of which profoundly affect the quality of our lives. Time and Decision provides a fascinating look at the complex factors involved in how and why we make our choices, so many of them short-sighted, and helps us understand more precisely this crucial human frailty.
Author : David Anthony Burress
Publisher :
ISBN 13 :
Total Pages : 482 pages
Book Rating : 4.:/5 (89 download)
Download or read book The Interest Elasticity of Household Savings Under Selected Models of Intertemporal Optimization written by David Anthony Burress and published by . This book was released on 1985 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Fokke Ihno Folkerts-Landau
Publisher : Cambridge University Press
ISBN 13 : 9780521230674
Total Pages : 192 pages
Book Rating : 4.2/5 (36 download)
Download or read book Intertemporal Planning, Exchange and Macroeconomics written by David Fokke Ihno Folkerts-Landau and published by Cambridge University Press. This book was released on 1982-07-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study attempts to provide modern macroeconomic analysis with a foundation in macroeconomic and general equilibrium theory.
Author : Gideon Keren
Publisher : John Wiley & Sons
ISBN 13 : 1118468392
Total Pages : 1056 pages
Book Rating : 4.1/5 (184 download)
Download or read book The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set written by Gideon Keren and published by John Wiley & Sons. This book was released on 2016-02-16 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, up-to-date examination of the most important theory, concepts, methodological approaches, and applications in the burgeoning field of judgment and decision making (JDM) Emphasizes the growth of JDM applications with chapters devoted to medical decision making, decision making and the law, consumer behavior, and more Addresses controversial topics from multiple perspectives – such as choice from description versus choice from experience – and contrasts between empirical methodologies employed in behavioral economics and psychology Brings together a multi-disciplinary group of contributors from across the social sciences, including psychology, economics, marketing, finance, public policy, sociology, and philosophy 2 Volumes
