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Fiscal Decentralization and Preference Heterogeneity
SSRN Electronic Journal, 2019Oates' Decentralization Theorem is the basis of the theory of fiscal federalism. This study reconsiders the theorem with a focus on the role of preference heterogeneity. The Decentralization Theorem predicts that the larger (smaller) the heterogeneity in preferences for local public goods across regions, the larger (smaller) the benefits of ...
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Heterogeneous Time Preferences - The Preferred Habitat Theory Revisited
2000As a first application of the general theory to the theory of the term structure, I study the Preferred Habitat Theory advanced by Modigliani and Sutch [50]. Modigliani and Sutch were primarily concerned with an empirical investigation of the effects of a particular policy of the US government and Federal Reserve, “Operation Twist”, which aimed at ...
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Heterogeneous preferences and the representative investor [PDF]
, 2003 In dieser Arbeit wird eine intertemporale Tauschwirtschaft mit einem vollkommenen Finanzmarkt betrachtet. Es leben zwei Investoren in dieser Wirtschaft, die sich in ihrer Einstellung zum Risiko einer unsicheren Finanzanlage unterscheiden. Es ist bekannt, dass in einem solchen Modell ein einzelner repräsentativer Agent konstruiert werden kann, der durch
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Dynamic Preference Heterogeneity
SSRN Electronic Journal, 2017Ryan Dew, Yang Li, Asim Ansari
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Estimation of Preference Heterogeneity in Markets with Costly Search
Marketing Science, 2021Ilya Morozov +2 more
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