Results 81 to 90 of about 47,115 (199)
Risk and Growth: Theoretical Relationships and Preliminary Estimates for South Africa [PDF]
In the recent literature on economic growth there is disagreement over the relationship between growth and volatility and their relative benefits and costs in welfare terms.
Kieran P. Donaghy, Russel Cooper
core
Weighted Temporal Utility [PDF]
, 2013 __Abstract__ We propose a novel utility representation for preferences over risky timed outcomes. The weighted temporal utility model generalizes many well known utility functions for intertemporal decision making under risk.
Gerber, A. (Anke) +1 more
core +2 more sources
TOWARDS A MORE GENERAL APPROACH TO TESTING THE TIME ADDITIVITY HYPOTHESIS [PDF]
A new procedure is proposed for re-examining the assumption of additivity of preferences over time which, although untenable, is usually maintained in intertemporal analyses of consumption and labour supply. The method is an extension of a famous work by
Gary Wong
core
Measuring time preferences [PDF]
, 2019 We review research that measures time preferences—i.e., preferences over intertemporal tradeoffs. We distinguish between studies using financial flows, which we call “money earlier or later” (MEL) decisions and studies that use time-dated consumption ...
Cohen, Jonathan D. +3 more
core
Nonseparable Preferences and Optimal Social Security systems [PDF]
In this paper, we consider economies in which agents are privately informed about their skills, which are evolving stochastically over time. We require agents’ preferences to be weakly separable between the lifetime paths of consumption and labor ...
Borys Grochulski, Narayana Kocherlakota
core +3 more sources
The Equity Premium Puzzle and the Riskfree Rate Puzzle [PDF]
This paper studies the implications for general equilibrium asset pricing of a recently introduced class of Kreps-Porteus non-expected utility preferences, which is characterized by a constant intertemporal elasticity of substitution and a constant, but ...
Philippe Weil
core
Optimal Consumption Choice under Uncertainty with Intertemporal Substitution [PDF]
This abstract will be reformatted upon submission. You don't need to format for line-breaks here!!!!! We extend the analysis of the intertemporal utility maximization problem for Hindy-Huang-Kreps utilities reported in Bank/Riedel(1999) to the stochastic
Frank Riedel, Peter Bank
core
Preferences for One-Shot Resolution of Uncertainty and Allais-Type Behavior, Second Version [PDF]
Experimental evidence suggests that individuals are more risk averse when they perceive risk that is gradually resolved over time. We address these findings by studying a decision maker (DM) who has recursive, non-expected utility preferences over ...
David Dillenberger
core
Labor supply models: unobserved heterogeneity, nonparticipation and dynamics [PDF]
, 2007 This chapter is concerned with the identification and estimation of models of labor supply. The focus is on the key issues that arise from unobserved heterogeneity, nonparticipation and dynamics.
Blundell, R., MaCurdy, T., Meghir, C.
core
Consumption and habits : evidence from panel data [PDF]
, 2002 The purpose of this paper is to test for the presence of habit formation in consumption decisions using household panel data. We use the test proposed by Meghir and Weber (1996) and estimate the within -period marginal rate of substitution between ...
Carrasco, Raquel +2 more
core +5 more sources