2024-03-29T06:30:59Z
https://mpra.ub.uni-muenchen.de/cgi/oai2
oai:mpra.ub.uni-muenchen.de:390
2019-09-26T15:51:46Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4432:443231
7375626A656374733D43:4330:433032
7375626A656374733D52:5231:523130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/390/
Study on Applications of Supply and Demand Theory of Microeconomics and Physics Field Theory to Central Place Theory
Nien, Benjamin Chih-Chien
D11 - Consumer Economics: Theory
D21 - Firm Behavior: Theory
C02 - Mathematical Methods
R10 - General
This paper attempts to analyze “central place theory” of spatial economics based on “supply and demand theory” in microeconomics and “field theory” in physics, and also discuss their relationship. Three most important research findings are described below. Firstly, the concept of market equilibrium could be expressed in the mathematical form of physics field theory under proper hypothesis. That is because the most important aspect of field theory model is that complex analysis is taken as a key mathematical tool. If assuming that “imaginary part” is neglected in this model, it is found that this model has the same mathematical structure as supply and demand theory of microeconomics. Secondly, the mathematical model of field theory can be applied to express clearly many concepts of central place theory, or even introduce many new concepts. Thirdly, it could also be taken as a study of combining the Hotelling Model and Moses Model for the location theory in another mathematic approach.
2006-09-18
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/390/1/MPRA_paper_390.pdf
Nien, Benjamin Chih-Chien (2006): Study on Applications of Supply and Demand Theory of Microeconomics and Physics Field Theory to Central Place Theory.
en
oai:mpra.ub.uni-muenchen.de:462
2019-09-27T07:03:23Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D4A:4A32:4A3232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/462/
Taxes and labour supply under interdependent preferences
Woźny, Łukasz
Garbicz, Marek
D11 - Consumer Economics: Theory
J22 - Time Allocation and Labor Supply
In this paper we identify how changes in the income tax rate affect
the labour supply under interdependent utility functions. To reach that
aim we create a model of the economy in which households choosing
their optimal labour supply take into account not only their income,
tax rate and individual consumption but also so called relative consumption
level (Garbicz 1997). Taking into account the last issue
we significantly modify the well known Becker model (1965).
We conduct a comparative statics exercise using na lattice and supermodular
game theory. Thanks to which we show sufficient and
necessary conditions for a labour supply to be monotonic function of
the income tax rate. We analyze the economic behaviour under static
and dynamic setup.
Under quite general assumptions concerning the household utility
function we show that the higher the tax rate the lower the macroeconomic
labour supply. Additionally we show the possibility of multiple
equilibria in the economy that offers the explanation of differences in
the working time between e.g. European countries and the US as well
as discrepancies between micro and macroeconomic elasticity of labour
supply (see Alesina, Glaeser, and Sacerdote 2005).
2005-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/462/1/MPRA_paper_462.pdf
Woźny, Łukasz and Garbicz, Marek (2005): Taxes and labour supply under interdependent preferences. Published in: Ekonomista No. 1 (January 2006): pp. 53-74.
en
oai:mpra.ub.uni-muenchen.de:765
2019-10-09T16:46:43Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4438:443832
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/765/
Overconfidence?
Benoît, Jean-Pierre
Dubra, Juan
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D82 - Asymmetric and Private Information ; Mechanism Design
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
Many studies have shown that people display an apparent overconfidence. In particular, it is common for a majority of people to describe themselves as better than average. The literature takes for granted that this better-than-average effect is problematic. We argue, however, that, even accepting these studies completely on their own terms, there is nothing at all wrong with a strict majority of people rating themselves above the median.
2008
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/765/1/MPRA_paper_765.pdf
Benoît, Jean-Pierre and Dubra, Juan (2008): Overconfidence?
en
oai:mpra.ub.uni-muenchen.de:766
2019-09-29T04:46:22Z
7374617475733D756E707562
7375626A656374733D52:5231:523134
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/766/
Dispersed Interactions of Urban Residents
Bazhanov, Andrei
Hartwick, John
R14 - Land Use Patterns
D11 - Consumer Economics: Theory
Beckmann's interaction model has each resident touching base in face-to-face activity with every other resident at the other's residence per unit time. We re-work his resulting ''interaction city'' with each resident ''operating with'' a Cobb-Douglas utility function. Similar but somewhat ''richer'' outcomes occur. We also investigate a new case with intermediate dispersion of face-to-face activity, one with scale economies in trip-making.
2006-11-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/766/1/MPRA_paper_766.pdf
Bazhanov, Andrei and Hartwick, John (2006): Dispersed Interactions of Urban Residents.
en
oai:mpra.ub.uni-muenchen.de:859
2019-09-26T14:52:00Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D51:5131:513137
7375626A656374733D43:4333:433330
7375626A656374733D51:5132:513233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/859/
Un modelo RSDAIDS para las importaciones de madera de Estados Unidos y sus implicaciones para Colombia
Alviar Ramírez, Mauricio
Restrepo Patiño, Medardo
Gallón Gómez, Santiago
D11 - Consumer Economics: Theory
Q17 - Agriculture in International Trade
C30 - General
Q23 - Forestry
This paper presents the main results of a model of import demand of wood products in the U.S. and its implications for Colombia. The time length considered here was 1980-1999. The theoretical model used was developed by Deaton and Muellbauer in 1980 and it is called: An Almost Ideal Demand System. This model allows the estimation of price and income elasticities for different types of wood products. The methodology used consists of the Seemingly Unrelated Regression model (SUR), popular in the econometrics literature. This paper shows, on one hand, that despite of the tremendous forest potential that Colombia has, its participation in international markets is negligible. On the other hand, if Colombia decided to develop the forest sector, it would have to face some strong competitors such as Canada and some Asian countries. The cross-price elasticities show that in the case of round wood the majority of countries behaves like complementary goods. The sign of the elasticities are the expected which allows to conclude that the model well fits the data
2002-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/859/1/MPRA_paper_859.pdf
Alviar Ramírez, Mauricio and Restrepo Patiño, Medardo and Gallón Gómez, Santiago (2002): Un modelo RSDAIDS para las importaciones de madera de Estados Unidos y sus implicaciones para Colombia. Published in: Borradores del CIE No. 2 (November 2002): pp. 1-21.
es
oai:mpra.ub.uni-muenchen.de:902
2019-09-27T11:42:45Z
7374617475733D756E707562
7375626A656374733D44:4431:443132
7375626A656374733D43:4335:433532
7375626A656374733D44:4431:443131
7375626A656374733D45:4532:453237
7375626A656374733D45:4532:453231
7375626A656374733D43:4335:433533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/902/
Does Consumer Confidence Forecast Household Spending?
Dion, David Pascal
D12 - Consumer Economics: Empirical Analysis
C52 - Model Evaluation, Validation, and Selection
D11 - Consumer Economics: Theory
E27 - Forecasting and Simulation: Models and Applications
E21 - Consumption ; Saving ; Wealth
C53 - Forecasting and Prediction Methods ; Simulation Methods
The traditional consumption function based on the life cycle permanent income hypothesis (LC-PIH) considers that consumer spending is based on households’ expectations of their future income. However, in short-term forecasting, the traditional economic determinants of consumption do not perform accurately. In addition to these macroeconomic variables, a measure of uncertainty is needed to better assess the short-term dynamics of the consumption function. Such a measure of uncertainty may be given by households’ expectations about their personal financial situation and general economic situation. A measure of these expectations is provided by consumer confidence (measured by the Consumer Confidence Index - CCI). In addition, consumer confidence seems to contain both a forecasting and independent explicative ability to predict consumption. Economic variables do not fully explain confidence, suggesting that its independent explicative power stems from its idiosyncratic features. We discuss in detail these features thanks to a review of the theoretical and empirical literature by discussing the consistency of consumer confidence with the standard consumption theory, analysing the determinants of the CCI and studying the predictive and causal power of the CCI.
2006-11-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/902/1/MPRA_paper_902.pdf
Dion, David Pascal (2006): Does Consumer Confidence Forecast Household Spending?
en
oai:mpra.ub.uni-muenchen.de:911
2019-09-26T08:50:52Z
7374617475733D756E707562
7375626A656374733D44:4431:443132
7375626A656374733D43:4335:433533
7375626A656374733D45:4532:453237
7375626A656374733D45:4532:453231
7375626A656374733D44:4431:443131
7375626A656374733D43:4335:433532
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/911/
Does Consumer Confidence Forecast Household Spending? The Euro Area Case
Dion, David Pascal
D12 - Consumer Economics: Empirical Analysis
C53 - Forecasting and Prediction Methods ; Simulation Methods
E27 - Forecasting and Simulation: Models and Applications
E21 - Consumption ; Saving ; Wealth
D11 - Consumer Economics: Theory
C52 - Model Evaluation, Validation, and Selection
The following analysis, based on error correction models, suggests that consumer confidence, together with traditional macroeconomic variables, contains a forecasting and explicative power on consumption. By including consumer confidence in a consumption function, consumer confidence releases a significant coefficient. Such a confidence-augmented consumption model provides good forecasting results.
2006-11-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/911/1/MPRA_paper_911.pdf
Dion, David Pascal (2006): Does Consumer Confidence Forecast Household Spending? The Euro Area Case.
en
oai:mpra.ub.uni-muenchen.de:919
2019-09-28T04:29:38Z
7374617475733D756E707562
7375626A656374733D44:4431:443132
7375626A656374733D43:4335:433533
7375626A656374733D45:4532:453237
7375626A656374733D45:4532:453231
7375626A656374733D44:4431:443131
7375626A656374733D43:4335:433532
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/919/
Does Consumer Confidence Forecast Household Spending? The Euro Area Case (Appendix to the main text)
Dion, David Pascal
D12 - Consumer Economics: Empirical Analysis
C53 - Forecasting and Prediction Methods ; Simulation Methods
E27 - Forecasting and Simulation: Models and Applications
E21 - Consumption ; Saving ; Wealth
D11 - Consumer Economics: Theory
C52 - Model Evaluation, Validation, and Selection
Appendix to the main text
2006-11-23
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/919/1/MPRA_paper_919.pdf
Dion, David Pascal (2006): Does Consumer Confidence Forecast Household Spending? The Euro Area Case (Appendix to the main text).
en
oai:mpra.ub.uni-muenchen.de:931
2019-09-27T11:28:23Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/931/
On nesting nonhomothetic preferences
Kowal, Paweł
D11 - Consumer Economics: Theory
We consider nested utility function with nonhomothetic subutility functions. We express demand functions for aggregate goods in terms of marshalian and hicksian demands associated with the standard consumer problem of maximization of aggregate utility function. We also presents a simple method of calibrating such a demand system.
2006-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/931/1/MPRA_paper_931.pdf
Kowal, Paweł (2006): On nesting nonhomothetic preferences.
en
oai:mpra.ub.uni-muenchen.de:1082
2019-09-27T12:35:18Z
7374617475733D756E707562
7375626A656374733D4C:4C35:4C3531
7375626A656374733D44:4431:443131
7375626A656374733D44:4434:443432
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/1082/
Uniform pricing and social welfare
Bertoletti, Paolo
L51 - Economics of Regulation
D11 - Consumer Economics: Theory
D42 - Monopoly
We re-examine the case for uniform pricing in a monopolistic third-degree price-discrimination setting by introducing differentiated costs. A profit-maximizing monopolist could then use price differentiation to reduce the production of the more costly goods, thereby decreasing average cost and increasing welfare. Indeed, monopolistic price differentiation can improve welfare and also aggregate consumer surplus even if, as in the benchmark linear case, total output does not increase. Accordingly, the welfare criterion based on total output fails and should be replaced by the computation of well-defined price indexes. These results possibly pave the way for a more optimistic assessment of monopolistic pricing.
2005-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/1082/1/MPRA_paper_1082.pdf
Bertoletti, Paolo (2005): Uniform pricing and social welfare.
en
oai:mpra.ub.uni-muenchen.de:1097
2019-10-02T04:47:37Z
7374617475733D756E707562
7375626A656374733D44:4432:443231
7375626A656374733D44:4431:443131
7375626A656374733D4D:4D33:4D3331
7375626A656374733D44:4438:443830
7375626A656374733D4C:4C31:4C3136
7375626A656374733D4C:4C31:4C3131
7375626A656374733D45:4533:453331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/1097/
Asymmetric Price Adjustment in the Small
Levy, Daniel
Chen, Haipeng (Allan)
Ray, Sourav
Bergen, Mark
D21 - Firm Behavior: Theory
D11 - Consumer Economics: Theory
M31 - Marketing
D80 - General
L16 - Industrial Organization and Macroeconomics: Industrial Structure and Structural Change ; Industrial Price Indices
L11 - Production, Pricing, and Market Structure ; Size Distribution of Firms
E31 - Price Level ; Inflation ; Deflation
Analyzing a large weekly retail transaction price dataset, we uncover a surprising regularity—small price increases occur more frequently than small price decreases for price changes of up to about 10 cents, while there is no such asymmetry for larger price changes. The asymmetry holds for the entire sample and for individual categories. We find that while inflation can explain some of the asymmetry, inflation is not the whole story as the asymmetry holds even after excluding inflationary periods from the data, and even for products whose price had not increased over the eight-year period. The findings hold for different measures of inflation and also after allowing for lagged price adjustments. We offer a consumer-based explanation for these findings.
2006-11-30
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/1097/1/MPRA_paper_1097.pdf
Levy, Daniel and Chen, Haipeng (Allan) and Ray, Sourav and Bergen, Mark (2006): Asymmetric Price Adjustment in the Small.
en
oai:mpra.ub.uni-muenchen.de:1553
2019-09-27T17:11:59Z
7374617475733D756E707562
7375626A656374733D4A:4A32:4A3232
7375626A656374733D44:4431:443131
7375626A656374733D4A:4A32:4A3236
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/1553/
The Decision to Retire: Some Microeconomic Hints
Canegrati, Emanuele
J22 - Time Allocation and Labor Supply
D11 - Consumer Economics: Theory
J26 - Retirement ; Retirement Policies
This very brief paper aims to provide some little microeconomic hints in order to explain the early retirement of workers. In particular, the hipothesis of quasi-concavity of the utility function, differences in wage rates and in pension benefits are all factors which may contribute to force a worker to retire before he reached the retirement age.
2007-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/1553/1/MPRA_paper_1553.pdf
Canegrati, Emanuele (2007): The Decision to Retire: Some Microeconomic Hints.
en
oai:mpra.ub.uni-muenchen.de:2180
2019-09-26T13:29:46Z
7374617475733D756E707562
7375626A656374733D4C:4C31:4C3131
7375626A656374733D4C:4C38:4C3836
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2180/
Understanding the Internet's relevance to media ownership policy: a model of too many choices
Nagler, Matthew
L11 - Production, Pricing, and Market Structure ; Size Distribution of Firms
L86 - Information and Internet Services ; Computer Software
D11 - Consumer Economics: Theory
Does the Internet provide a failsafe against media consolidation in the wake of an
easing of media ownership rules? This paper posits a model of news outlet selection on the
Internet in which consumers experience cognitive costs that increase with the number of
options faced. Consistent with psychological evidence, these costs may be reduced by
constraining one’s choice set to “safe bets” familiar from offline (e.g., CNN.com). It is
shown that, as the number of outlets grows, dispersion of consumer visitation across outlets inevitably declines. Consequently, independent Internet outlets may fail to mitigate lost outlet independence on other media.
2006-12-14
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2180/1/MPRA_paper_2180.pdf
Nagler, Matthew (2006): Understanding the Internet's relevance to media ownership policy: a model of too many choices.
en
oai:mpra.ub.uni-muenchen.de:2320
2019-10-01T08:14:25Z
7374617475733D756E707562
7375626A656374733D48:4832:483233
7375626A656374733D44:4431:443131
7375626A656374733D4A:4A32:4A3233
7375626A656374733D48:4836:483631
7375626A656374733D4A:4A32:4A3231
7375626A656374733D4A:4A31:4A3138
7375626A656374733D4A:4A32:4A3236
7375626A656374733D44:4437:443734
7375626A656374733D4A:4A35:4A3532
7375626A656374733D4A:4A35:4A3538
7375626A656374733D44:4437:443732
7375626A656374733D4A:4A32:4A3232
7375626A656374733D48:4832:483231
7375626A656374733D44:4436:443633
7375626A656374733D49:4933:493338
7375626A656374733D4A:4A35:4A3531
7375626A656374733D48:4833:483331
7375626A656374733D44:4439:443931
7375626A656374733D44:4437:443738
7375626A656374733D48:4832:483234
7375626A656374733D48:4835:483535
7375626A656374733D4A:4A31:4A3131
7375626A656374733D4A:4A31:4A3134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2320/
The single-mindedness of labor unions when transfers are not Lump-Sum
canegrati, emanuele
H23 - Externalities ; Redistributive Effects ; Environmental Taxes and Subsidies
D11 - Consumer Economics: Theory
J23 - Labor Demand
H61 - Budget ; Budget Systems
J21 - Labor Force and Employment, Size, and Structure
J18 - Public Policy
J26 - Retirement ; Retirement Policies
D74 - Conflict ; Conflict Resolution ; Alliances ; Revolutions
J52 - Dispute Resolution: Strikes, Arbitration, and Mediation ; Collective Bargaining
J58 - Public Policy
D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
J22 - Time Allocation and Labor Supply
H21 - Efficiency ; Optimal Taxation
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
I38 - Government Policy ; Provision and Effects of Welfare Programs
J51 - Trade Unions: Objectives, Structure, and Effects
H31 - Household
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
D78 - Positive Analysis of Policy Formulation and Implementation
H24 - Personal Income and Other Nonbusiness Taxes and Subsidies
H55 - Social Security and Public Pensions
J11 - Demographic Trends, Macroeconomic Effects, and Forecasts
J14 - Economics of the Elderly ; Economics of the Handicapped ; Non-Labor Market Discrimination
In this paper I analyse a labour market where the wage is endogenously
determined according to an Efficient Bargaining process
between a firm and a labour union whose members are partitioned
into two social groups: the old and the young. Furthermore, I exploit
the Single-Mindedness theory, which considers the existence of a density
function which endogenously depends on leisure. I demonstrate
that, when preferences of one group for leisure are higher than those
of the other group the latter suffers from higher tax rates and with
lower level of wage rates and lower levels of leisure. Finally, since the
former is more single-minded, it may exploit its greater political power
in order to get a positive intergenerational transfer which takes place
via labour income taxation. Empirical evidence from the WERS 2004
survey confirms main results of the model.
2007-03-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2320/1/MPRA_paper_2320.pdf
canegrati, emanuele (2007): The single-mindedness of labor unions when transfers are not Lump-Sum.
en
oai:mpra.ub.uni-muenchen.de:2548
2019-10-01T09:50:54Z
7374617475733D756E707562
7375626A656374733D48:4835:483530
7375626A656374733D44:4436:443633
7375626A656374733D48:4836:483631
7375626A656374733D44:4437:443732
7375626A656374733D49:4933:493338
7375626A656374733D48:4831:483131
7375626A656374733D48:4835:483535
7375626A656374733D44:4433:443331
7375626A656374733D48:4832:483234
7375626A656374733D4A:4A31:4A3133
7375626A656374733D44:4431:443131
7375626A656374733D44:4433:443330
7375626A656374733D43:4337:433732
7375626A656374733D48:4835:483533
7375626A656374733D48:4832:483233
7375626A656374733D4A:4A32:4A3236
7375626A656374733D44:4437:443731
7375626A656374733D48:4833:483331
7375626A656374733D4A:4A32
7375626A656374733D48:4836:483630
7375626A656374733D4A:4A32:4A3232
7375626A656374733D44:4437:443734
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2548/
A Single-Mindedness model with n generations
Emanuele, Canegrati
H50 - General
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
H61 - Budget ; Budget Systems
D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
I38 - Government Policy ; Provision and Effects of Welfare Programs
H11 - Structure, Scope, and Performance of Government
H55 - Social Security and Public Pensions
D31 - Personal Income, Wealth, and Their Distributions
H24 - Personal Income and Other Nonbusiness Taxes and Subsidies
J13 - Fertility ; Family Planning ; Child Care ; Children ; Youth
D11 - Consumer Economics: Theory
D30 - General
C72 - Noncooperative Games
H53 - Government Expenditures and Welfare Programs
H23 - Externalities ; Redistributive Effects ; Environmental Taxes and Subsidies
J26 - Retirement ; Retirement Policies
D71 - Social Choice ; Clubs ; Committees ; Associations
H31 - Household
J2 - Demand and Supply of Labor
H60 - General
J22 - Time Allocation and Labor Supply
D74 - Conflict ; Conflict Resolution ; Alliances ; Revolutions
In this paper I will analyse the redistribution of income amongst n
generations using the Single-mindedness Theory. I will introduce a new
expression for the balanced-budget constraint, no longer based on lump-
sum transfers as in the traditional literature, but rather on more realistic
labour income taxation. Since the Government has to clear the budget,
some generations obtain a benefit, whilst some other must pay the entire
cost of social secutiry systems. I will demonstrate that generations which
are more single-minded on leisure are the most better off since they are
more able to capture politicians in the political competition. Further-
more, it could be the case that candidates are not forced to undertake the
same policies in equilibrium and I will demonstrate that this result holds
only once an endogenous density function for individual preferences for
politicians is considered.
2007-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2548/1/MPRA_paper_2548.pdf
Emanuele, Canegrati (2007): A Single-Mindedness model with n generations.
en
oai:mpra.ub.uni-muenchen.de:2594
2019-10-01T16:47:57Z
7374617475733D756E707562
7375626A656374733D43:4339:433930
7375626A656374733D44:4430:443031
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2594/
Preferences over Consumption and Status
Vostroknutov, Alexander
C90 - General
D01 - Microeconomic Behavior: Underlying Principles
D11 - Consumer Economics: Theory
In many models of interdependent preferences the payoffs have not only personal value but also enter the social part of the utility. This duality creates a problem of distinguishing what influences the choice more: consumption or social concerns. To identify what drives the behavior it is necessary to have a model of preferences that allows for unambiguous separation of personal and social components. I use the preferences for consumption and status as an example to show that the axioms in the paper describe the preferences that have unique expected utility representation with consumption and social utilities entering additively. This makes it possible to experimentally determine the nature of social preferences without ad hoc assumptions and to estimate whether consumption or social value is more important in economic decisions.
2007-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2594/1/MPRA_paper_2594.pdf
Vostroknutov, Alexander (2007): Preferences over Consumption and Status.
en
oai:mpra.ub.uni-muenchen.de:3006
2019-09-28T04:58:40Z
7374617475733D707562
7375626A656374733D44:4433:443333
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/3006/
Maximisation postulates and their efficacy for Islamic economics
Hasan, Zubair
D33 - Factor Income Distribution
D11 - Consumer Economics: Theory
This paper examines the nature and role of maximization postulates concerning profit and utility in the mainstream price theory formation from a methodological perspective. Mainstream economics retains these postulates, despite much criticism, mainly for two reasons. Firstly, they help establish cause-effect linkages among economic variables and markets. In that they greatly facilitate predictions and their empirical verification over a wide field of inquiry. Secondly, no other behavioral rule has so far been established that gives equally valid, if not superior, results over such range.
It is argued in this paper that the postulates are required in Islamic economics as well for the same reasons. Maximization, per se, is not un-Islamic: what is maximized, how and for what purpose are the real issues to investigate for passing judgment. Contrary to the current position in the literature, we find it preferable to include moral values and social considerations of Islam in the assumptions of economic theorems, rather than attempting to include them in the objective elements of the models, until Islamic economics evolves as an independent subject. For maximization is a mathematical concept, and cannot fruitfully accommodate what cannot somehow be measured.
2002
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/3006/1/MPRA_paper_3006.pdf
Hasan, Zubair (2002): Maximisation postulates and their efficacy for Islamic economics. Published in: American Journal of Islamic Social Sciences , Vol. 19, No. 1 (2002): pp. 95-118.
en
oai:mpra.ub.uni-muenchen.de:3059
2019-09-26T16:09:39Z
7374617475733D707562
7375626A656374733D45:4532:453231
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/3059/
Treatment of Consumption in Islamic Economics: An Appraisal
Hasan, Zubair
E21 - Consumption ; Saving ; Wealth
D11 - Consumer Economics: Theory
This paper attempts a broad appraisal of the literature on macro consumption function in Islamic economics. It starts with a brief look at the microelements of the concept and clears several cobwebs concerning wants and needs, scarcity of resources, the basket of goods, and the efficacy of utility and its maximization for consumer equilibrium. The explanations narrow down the conceptual gaps between the micro and macro level articulations of the subject.
Next, the paper reviews some selected macro models resting on division of income on the basis of nisab between the upper (rich) and the lower (poor) classes of society for analyzing the impact of zakah-moderation mechanism on economic growth via the saving-investment route. It is demonstrated that, contrary to the claim based on models, the positive impact of Islamic scheme on the variables studied is uncertain, to put it mildly.
Finally, attention is drawn to some recent developments in the treatment of consumption in economics as also to interest being shown in the subject in other social sciences. This inter-disciplinary approach seeks to detach consumption from income and links it to wealth. It also brings in environmental and ethical concerns into the picture. The effort promises to bring the treatment of consumption closer in the two economic disciplines, secular and Islamic: it is a welcome development.
2005
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/3059/1/MPRA_paper_3059.pdf
Hasan, Zubair (2005): Treatment of Consumption in Islamic Economics: An Appraisal. Published in: JKAU: Islamic Economics, Jeddah , Vol. 2, No. 18 (2005): pp. 29-46.
en
oai:mpra.ub.uni-muenchen.de:3113
2019-09-27T22:29:22Z
7374617475733D707562
7375626A656374733D44:4437:443738
7375626A656374733D44:4437:443731
7375626A656374733D44:4431:443131
7375626A656374733D49:4930:493030
7375626A656374733D44:4434:443430
7375626A656374733D44:4432:443230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/3113/
Prospettive per un nuovo Welfare.
Reggiani, Tommaso
D78 - Positive Analysis of Policy Formulation and Implementation
D71 - Social Choice ; Clubs ; Committees ; Associations
D11 - Consumer Economics: Theory
I00 - General
D40 - General
D20 - General
"Exit, Voice, and Loyalty" (A.O. Hirschman 1970) is a theoretical concept derived from the work of Albert O. Hirschman (1970) which is focused on two essential options in organizatios and products decline, being "exit" and "voice".The basis concept is as follows: members of an organization, whether consumers , or any other kind of human grouping, have essentially two possible responses when they perceive that the producer/organization is demonstrating a decrease in quality or benefit to the consumer/member: they can EXIT (withdraw from the relationship-the standard market strategy); or, they can VOICE (attempt to repair or improve the relationship through communication of the complaint, grievance or proposal for change -the standard political strategy). In this article we apply this approach to welfare and health care markets, emphasizing the main importance of LOYALTY option (a mixed "voice-exit" strategy).
2007-03-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/3113/1/MPRA_paper_3113.pdf
Reggiani, Tommaso (2007): Prospettive per un nuovo Welfare. Published in: Appunti di cultura e politica , Vol. vol. 2, No. march-april (2007) (26 April 2007): pp. 35-38.
it
oai:mpra.ub.uni-muenchen.de:3123
2019-09-28T16:41:30Z
7374617475733D707562
7375626A656374733D44:4431:443132
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/3123/
Fulfilmen of Basic Needs: Concept, Measurement and Muslim Countries’ Performance
Hasan, Zubair
D12 - Consumer Economics: Empirical Analysis
D11 - Consumer Economics: Theory
This paper adopts a relative approach to the fulfillment of basic needs. It constructs a basic needs gap index (BNGI)to measure the performance of selected Muslim countries at three points of time 1987, 1991, and 1994
1997
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/3123/1/MPRA_paper_3123.pdf
Hasan, Zubair (1997): Fulfilmen of Basic Needs: Concept, Measurement and Muslim Countries’ Performance. Published in: IIUM Journal of Economics and Management , Vol. 5, No. 2 (1997): pp. 1-38.
en
oai:mpra.ub.uni-muenchen.de:3185
2019-09-27T04:16:48Z
7374617475733D707562
7375626A656374733D45:4532
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/3185/
Macro Consumption Function in an Islamic Framework by Fahim Khan: Comments
Hasan, Zubair
E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy
D11 - Consumer Economics: Theory
This is a critique of an article of M. Fahim Khan pulished in an earlier issue of the same journal It argues that in other economic systems including capitalism too play an important role to mitigate the hardships of the poor but unlike the Islamic system they do not show their impact on income determination. Transfer of income to the poor via zakah will reduce the saving potential of the economy. To what extent this will be neutralized by the rich abstaining from frivolous spending due to the fear of God is uncertain. Hence the macro model of the author to demonstrate the superiority of the Islamic system is not convincing.
1985
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/3185/1/MPRA_paper_3185.pdf
Hasan, Zubair (1985): Macro Consumption Function in an Islamic Framework by Fahim Khan: Comments. Published in: JKAU: Islamic Economics, Jeddah , Vol. 2, No. 2 (1985): pp. 79-81.
en
oai:mpra.ub.uni-muenchen.de:4393
2019-09-28T05:55:45Z
7374617475733D756E707562
7375626A656374733D43:4336:433631
7375626A656374733D5A:5A31:5A3133
7375626A656374733D44:4431:443131
7375626A656374733D4C:4C38:4C3833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4393/
Tipping as a strategic investment in service quality: An optimal-control analysis of repeated interactions in the service industry
Azar, Ofer H.
Tobol, Yossi
C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis
Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
D11 - Consumer Economics: Theory
L83 - Sports ; Gambling ; Restaurants ; Recreation ; Tourism
We present an optimal-control model where tipping behavior creates reputation that affects future service. Tipping and reputation can evolve in four path prototypes: converging to an interior equilibrium; converging to minimum tips and reputation; and two prototypes that start differently but end with tips and reputation increasing indefinitely. Analyzing the interior equilibrium suggests that when reputation erodes more quickly (capturing lower patronage frequency), equilibrium reputation is lower. Interestingly, however, tips may be higher. Increasing the minimal tip raises tips by the same increase, and does not change reputation. A more patient customer leaves higher tips and reaches a higher reputation.
2006
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4393/1/MPRA_paper_4393.pdf
Azar, Ofer H. and Tobol, Yossi (2006): Tipping as a strategic investment in service quality: An optimal-control analysis of repeated interactions in the service industry.
en
oai:mpra.ub.uni-muenchen.de:4452
2019-09-26T19:06:08Z
7374617475733D756E707562
7375626A656374733D5A:5A31:5A3133
7375626A656374733D4C:4C38:4C3833
7375626A656374733D44:4431:443131
7375626A656374733D43:4336:433631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4452/
Tipping as a strategic investment in service quality: An optimal-control analysis of repeated interactions in the service industry
Azar, Ofer H.
Tobol, Yossi
Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
L83 - Sports ; Gambling ; Restaurants ; Recreation ; Tourism
D11 - Consumer Economics: Theory
C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis
We present an optimal-control model where tipping behavior creates reputation that affects future service. Tipping and reputation can evolve in four path prototypes: converging to an interior equilibrium; converging to minimum tips and reputation; and two prototypes that start differently but end with tips and reputation increasing indefinitely. Analyzing the interior equilibrium suggests that when reputation erodes more quickly (capturing lower patronage frequency), equilibrium reputation is lower. Interestingly, however, tips may be higher. Increasing the minimal tip raises tips by the same increase, and does not change reputation. A more patient customer leaves higher tips and reaches a higher reputation.
2006
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4452/1/MPRA_paper_4452.pdf
Azar, Ofer H. and Tobol, Yossi (2006): Tipping as a strategic investment in service quality: An optimal-control analysis of repeated interactions in the service industry.
en
oai:mpra.ub.uni-muenchen.de:4485
2019-09-26T22:32:46Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D5A:5A31:5A3133
7375626A656374733D4C:4C38:4C3833
7375626A656374733D44:4431:443132
7375626A656374733D41:4131:413132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4485/
Tipping, firm strategy, and industrial organization
Azar, Ofer H.
D11 - Consumer Economics: Theory
Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
L83 - Sports ; Gambling ; Restaurants ; Recreation ; Tourism
D12 - Consumer Economics: Empirical Analysis
A12 - Relation of Economics to Other Disciplines
Tipping is a phenomenon that has been studied for many years, but is receiving increased attention in recent years. The magnitude of tips is very large – in the US, for example, tips in the food industry alone amount to about $42 billion each year, and tips are given in many other establishments and countries, so annual worldwide tips are much higher than that. Millions of workers in the US alone derive most of their income from tips and tipping is prevalent in numerous countries and occupations. These are all good reasons to study tipping, but it is clear that tipping has created much interest also because it is puzzling from a theoretical perspective. The common assumption in economics that people maximize utility (which is derived by consuming various goods) subject to a budget constraint implies that people should give up money only when they receive something in return. This is not the case, however, when people tip: service has already been provided by the time the tip is given, so the tip is a voluntary payment that does not buy something real (such as improved service) in return.
The literature on tipping can be divided to two main areas. The first area can be termed "understanding tipping behavior." This includes studies that try to understand why people tip, what affects their tipping behavior, why tipping is different across countries, etc. The second research area, which started to receive attention more recently, can be defined as "tipping, firm strategy, and industrial organization." This part of the literature deals with the effect of tipping on firms and markets. For example, firms can sometimes choose between voluntary tipping and compulsory service charges – which one is better for the firm? How should the existence of tips affect optimal pricing by the firm? How should firms monitor workers and provide incentives to them when tipping exists? Why does tipping exist in some industries but not in others? Does tipping increase social welfare in industries in which it is the norm? All these questions belong to this second research area and demonstrate the close relationship of tipping to industrial organization and firm strategy. Several review articles made an attempt to summarize and synthesize the extensive literature in the area of understanding tipping behavior, but no article has offered an extensive literature review that focuses on the area of "tipping, firm strategy, and industrial organization." The purpose of this paper, therefore, is to review and summarize the literature in this area of research.
2006
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4485/1/MPRA_paper_4485.pdf
Azar, Ofer H. (2006): Tipping, firm strategy, and industrial organization.
en
oai:mpra.ub.uni-muenchen.de:5505
2019-09-27T10:10:57Z
7374617475733D756E707562
7375626A656374733D44:4438:443833
7375626A656374733D44:4431:443132
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/5505/
Overconfidence?
Benoît, Jean-Pierre
Dubra, Juan
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
D12 - Consumer Economics: Empirical Analysis
D11 - Consumer Economics: Theory
Many studies have shown that people display an apparent overconfidence. In particular, it is common for a majority of people to describe themselves as better-than-average. The literature takes for granted that this better-than-average is problematic. We argue, however, that, even accepting these studies on their own terms, there is nothing at all wrong with a strict majority of people rating themselves above the median.
2007-10-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/5505/1/MPRA_paper_5505.pdf
Benoît, Jean-Pierre and Dubra, Juan (2007): Overconfidence?
en
oai:mpra.ub.uni-muenchen.de:5656
2019-09-27T03:44:44Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/5656/
Exploring the Two Commodity World
Husain, Fazal
D11 - Consumer Economics: Theory
This paper attempts to explore the nature of the goods in a Two Commodity world. The analysis suggests that the only possibility that the two goods have same income elasticity is the case when both goods have unit income elasticities. Moreover, if both the goods have equal income elasticities, then these goods will belong to the same category and will be in equal relation to each other. The analysis further suggests that if one of the good has zero income elasticity, it will always be a substitute to the other good which will always be an elastic good. These results are supported by the CES and Quasi-linear utility functions.
2001
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/5656/1/MPRA_paper_5656.pdf
Husain, Fazal (2001): Exploring the Two Commodity World.
en
oai:mpra.ub.uni-muenchen.de:6017
2019-10-05T08:59:28Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4438:443832
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6017/
Overconfidence?
Benoît, Jean-Pierre
Dubra, Juan
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D82 - Asymmetric and Private Information ; Mechanism Design
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
Many studies have shown that people display an apparent overconfidence. In particular, it is common for a majority of people to describe themselves as better-than-average. The literature takes for granted that this better-than-average effect is problematic. We argue, however, that, even accepting these studies on their own terms, there is nothing at all wrong with a strict majority of people rating themselves above the median.
2007-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6017/1/MPRA_paper_6017.pdf
Benoît, Jean-Pierre and Dubra, Juan (2007): Overconfidence?
en
oai:mpra.ub.uni-muenchen.de:6116
2019-09-27T05:25:38Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D48:4832:483234
7375626A656374733D48:4835:483533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6116/
A Contribution to the Positive Theory of Indirect Taxation
Canegrati, Emanuele
D11 - Consumer Economics: Theory
H24 - Personal Income and Other Nonbusiness Taxes and Subsidies
H53 - Government Expenditures and Welfare Programs
In this paper I analyse a probabilistic voting model where self-interested
governments set their taxation policies in order to maximise the probabil-
ity of winning elections. Society is divided into groups which have di¤erent
preferences for the consumption of goods. Results show how candidates
are captured by the most powerful groups, which not necessarily repre-
sent the median voter but may be located at more extreme positions. The
introduction of a probabilistic voting model characterized by the presence of single-minded groups overrules the classic results achieved by the me-
dian voter theorem, because it is no longer the position on the income
scale to drive the equilibrium policy but the ability of groups to focus on
their most preferred goods, instead. This ability allows them to achieve
a strong political power which candidates cannot help going along with,
because they would lose elections otherwise.
2007-12-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6116/1/MPRA_paper_6116.pdf
Canegrati, Emanuele (2007): A Contribution to the Positive Theory of Indirect Taxation.
en
oai:mpra.ub.uni-muenchen.de:6640
2019-10-04T05:19:25Z
7374617475733D707562
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6640/
“Rationality in the Joint Allocation of Private and Public Goods”.
Zamora, Bernarda
D11 - Consumer Economics: Theory
In this study we assume that household demand for private and public goods are the e¢cient outcomes of the household decission process. From the efcient assumption we derive testable properties of these demands and we identify some characteristics of the intrahousehold distribution of the
household expenditure. These results extend Chiappori (1988) main results to the case of joint consumption of private and public goods.
2000
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6640/1/MPRA_paper_6640.pdf
Zamora, Bernarda (2000): “Rationality in the Joint Allocation of Private and Public Goods”. Published in: Working Paper. Economics Series 2000, Facultad de Ciencias Sociales y Jurídicas, Universidad Carlos III de Madrid . No. #00.51 (2000)
en
oai:mpra.ub.uni-muenchen.de:6818
2019-10-03T19:10:19Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D43:4331:433134
7375626A656374733D44:4435:443531
7375626A656374733D43:4337:433732
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6818/
Interdependent Preferences, Potential Games and Household Consumption
Deb, Rahul
D11 - Consumer Economics: Theory
C14 - Semiparametric and Nonparametric Methods: General
D51 - Exchange and Production Economies
C72 - Noncooperative Games
This paper presents a nonparametric model of interdependent preferences, where an individual’s consumption may be an externality on the preferences of other consumers. We assume that individual price consumption data is observed for all consumers and prove that the general model imposes few restrictions on the observed data, where the consistency requirement is Nash rationalizability. We motivate potential games as an important sub class of games where the family of concave potential games is refutable and imposes stronger restrictions on observed data. As an application of this model, we discuss inter-household consumption data. Finally, we use this framework to extend the analysis of Brown and Matzkin (1996) on refutable pure exchange economies to pure exchange economies with externalities.
2008-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6818/1/MPRA_paper_6818.pdf
Deb, Rahul (2008): Interdependent Preferences, Potential Games and Household Consumption.
en
oai:mpra.ub.uni-muenchen.de:6959
2019-09-28T06:06:35Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D5A:5A31:5A3130
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D59:5933:593330
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6959/
Book Review to Tibor Scitovsky - "The Joyless Economy" (1976)
Reggiani, Tommaso
D11 - Consumer Economics: Theory
Z10 - General
B50 - General
B00 - General
Y30 - Book Reviews (unclassified)
Tibor Scitovsky has struggled over the years to give us a precise definition of "quality", but it has generally been related to "joy" in consumption. His book THE JOYLESS ECONOMY (1976), remains a major critique of modern and especially economic values. Based on "Happiness Paradox", in this essay, the author advised that we should spend our money on things that we will not adapt to ("stimulation good" or "relational good" , such a beautiful scenery or meeting good friends - things that can continually fascinate us and provide a degree of fulfillment) rather than wasting our time and money buying things which we get adapted to ("comfort good", such as a newer and fancier-looking sofa, etc. - the pleasure of which is temporary and fades with time). Certain types of consumption, he argues in this essay, are "joyless", others "joyful" and the difference between them is a composite of several things of which challenge, risk and a sense of accomplishment would be major factors. Scitovsky has extended his ideas into social critique: specialization has taken much of the joy out of work, he has argued, and consumption in "American way-of-life" society (more than any other) has placed far too great a stress on comfort and safety in consumption and living, thereby depriving consumption activities of their challenging, risky and difficult elements, i.e. "joy". The "cure" for a joyless society, Scitovsky maintains, is to "educate" our consumption so as to infuse it with those joyful elements. While Scitovsky's arguments may seem daring, he stands in good company: Thorstein Veblen, John Kenneth Galbraith and Robert Frank are but a handful of the many other prominent economists who stress the need to think carefully about the "qualitative" aspects of economic progress.
2008-01-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6959/1/MPRA_paper_6959.pdf
Reggiani, Tommaso (2008): Book Review to Tibor Scitovsky - "The Joyless Economy" (1976). Published in: Aggiornamenti Sociali, vol. 01/2008 , Vol. Aggior, No. January (1 January 2008): pp. 69-71.
it
oai:mpra.ub.uni-muenchen.de:8779
2019-09-27T04:50:29Z
7374617475733D696E7072657373
7375626A656374733D44:4438:443831
7375626A656374733D44:4431:443131
7375626A656374733D44:4437:443731
7375626A656374733D41:4131:413133
7375626A656374733D41:4131:413132
7375626A656374733D43:4337:433730
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8779/
On Feelings as a Heuristic for Making Offers in Ultimatum Negotiations
Stephen, Andrew T.
Pham, Michel Tuan
D81 - Criteria for Decision-Making under Risk and Uncertainty
D11 - Consumer Economics: Theory
D71 - Social Choice ; Clubs ; Committees ; Associations
A13 - Relation of Economics to Social Values
A12 - Relation of Economics to Other Disciplines
C70 - General
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
This research examines how the reliance on emotional feelings as a heuristic influences the proposal of offers in negotiations. Results from three experiments based on the classic ultimatum game show that, compared to proposers who do not rely on their feelings, proposers who rely on their feelings make less generous offers in the standard ultimatum game, more generous offers in a variant of the game allowing responders to make counteroffers, and less generous offers in the dictator game where no responses are allowed. Reliance on feelings triggers a more literal form of play, whereby proposers focus more on how they feel toward the offers themselves than on how they feel toward the possible outcomes of these offers, as if their offers were the final outcomes. Proposers relying on their feelings also tend to focus on gist-based, simpler construals of negotiations that capture only the essential aspects of the situation.
2008-05-08
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8779/1/MPRA_paper_8779.pdf
Stephen, Andrew T. and Pham, Michel Tuan (2008): On Feelings as a Heuristic for Making Offers in Ultimatum Negotiations. Forthcoming in: Psychological Science
en
oai:mpra.ub.uni-muenchen.de:8850
2019-10-05T18:44:05Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4439:443931
7375626A656374733D45:4532:453231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8850/
Can Increases in Real Consumer Incomes Explain the Aging of Motor Vehicles in the US?
Yurko, Anna
D11 - Consumer Economics: Theory
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
E21 - Consumption ; Saving ; Wealth
The average age of vehicles in the US has increased by more than 40 percent since the early 1960s. Over the same time period, consumer incomes on average have been growing faster than prices of new vehicles. This paper asks whether
greater affordability of vehicles and the resulting increase in vehicle ownership among lower-income consumers can explain some of the aging of vehicles in the US. Consumers with lower incomes are more likely to purchase used vehicles and hold on to them longer, so their decisions affect the age composition of the vehicle population.
I evaluate this hypothesis using a dynamic, non-stationary, heterogeneous agents model, with consumer incomes and prices of new vehicles growing over time at the rates calibrated from the data. The agents in the model buy and sell both new and used vehicles. These vehicles are differentiated by age-dependent quality (high, medium and low), with the assumption that older vehicles are more likely to be of poorer quality. The prices of used vehicles depend on their quality level and are allowed to change over time at endogenous rates.
The estimated model predicts a significant increase in the average age of vehicles from 1967 to 2001. The conclusion is that consumer incomes are an important factor in vehicle ownership decisions, including the ages of vehicles held, and changes in incomes have contributed to the aging of the vehicle stock in the US.
2008-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8850/1/MPRA_paper_8850.pdf
Yurko, Anna (2008): Can Increases in Real Consumer Incomes Explain the Aging of Motor Vehicles in the US?
en
oai:mpra.ub.uni-muenchen.de:8879
2019-09-27T10:32:33Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4438:443832
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8879/
Overconfidence?
Benoît, Jean-Pierre
Dubra, Juan
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D82 - Asymmetric and Private Information ; Mechanism Design
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
Many studies have shown that people display an apparent overconfidence. In particular, it is common for a majority of people to describe themselves as better than average. The literature takes for granted that this better-than-average effect is problematic. We argue, however, that, even accepting these studies completely on their own terms, there is nothing at all wrong with a strict majority of people rating themselves above the median.
2008-05-26
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8879/1/MPRA_paper_8879.pdf
Benoît, Jean-Pierre and Dubra, Juan (2008): Overconfidence?
en
oai:mpra.ub.uni-muenchen.de:8977
2019-09-26T08:15:33Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D43:4339:433933
7375626A656374733D44:4430:443031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8977/
Truck, barter and exchange versus the endowment effect: virtual field experiments in an online game environment.
Munro, Alistair
Ferreira De Sousa, Yannick
D11 - Consumer Economics: Theory
C93 - Field Experiments
D01 - Microeconomic Behavior: Underlying Principles
We examine the feasibility of using a massively multiplayer online role-playing game
(MMORPG) to test economic theories. As a test vehicle we use the well-known
hypothesis about the relationship between market experience and the endowment
effect. Our results confirm earlier field experiments that individuals with more trading
experience are less likely to exhibit status quo behaviour in trade. However, we also
find evidence that highly experienced individuals are more likely to swap the item
rather than keep it – i.e. there appears to be a propensity to ‘truck, barter and
exchange’. A further experiments suggests that this feature is robust and is unlikely to
be due to subject misperception or experimenter demand effects. We conclude that
virtual economies may be a useful venue for field experiments.
2008-01-20
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8977/1/MPRA_paper_8977.pdf
Munro, Alistair and Ferreira De Sousa, Yannick (2008): Truck, barter and exchange versus the endowment effect: virtual field experiments in an online game environment.
en
oai:mpra.ub.uni-muenchen.de:9370
2019-09-28T06:04:01Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D4C:4C31:4C3133
7375626A656374733D4D:4D33:4D3337
7375626A656374733D44:4434:443433
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/9370/
Reference Dependence and Market Competition
Zhou, Jidong
D11 - Consumer Economics: Theory
L13 - Oligopoly and Other Imperfect Markets
M37 - Advertising
D43 - Oligopoly and Other Forms of Market Imperfection
This paper studies the implications of consumer reference dependence in market competition. If consumers take some product (e.g., the first product they have considered) as the reference point in evaluating others and exhibit loss aversion, then the more "prominent" firm whose product is taken as the reference point by more consumers will randomize its price over a high and a low one. All else equal, this firm will on average earn a larger market share and a higher profit than its rival. The welfare impact is that consumer reference dependence could harm firms and benefit consumers by intensifying price competition. Consumer reference dependence will also shape firms' advertising strategies and quality choices. If advertising increases product prominence, ex ante identical firms may differentiate their advertising intensities. If firms vary in their prominence, the less prominent firm might supply a lower-quality product even if improving quality is costless.
2008-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/9370/1/MPRA_paper_9370.pdf
Zhou, Jidong (2008): Reference Dependence and Market Competition.
en
oai:mpra.ub.uni-muenchen.de:9494
2019-10-04T22:46:02Z
7374617475733D756E707562
7375626A656374733D43:4336:433638
7375626A656374733D44:4431:443131
7375626A656374733D44:4439:443931
7375626A656374733D44:4435:443538
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/9494/
Dynamic Multi-Sector CGE Modeling -- Reply to Assmann and Hogrefe
Wendner, Ronald
Farmer, Karl
C68 - Computable General Equilibrium Models
D11 - Consumer Economics: Theory
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
D58 - Computable and Other Applied General Equilibrium Models
Farmer and Wendner (2004) consider the sensitivity of policy effects, as implied by dynamic multi-sector computable general equilibrium models, with respect to the specification of capital and investment aggregation. They demonstrate that (small) differences in the specification of capital and investment aggregation may yield large differences in the policy effects predicted by dynamic multi-sector computable general equilibrium models. Assmann and Hogrefe, AH in the following, conclude that Farmer and Wendner's (FW) result indeed also holds in different model frameworks. However, they criticize FW's model that is based on the ``puzzling'' value capital approach. Here, FW reply to AH's critique.
2008-07-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/9494/1/MPRA_paper_9494.pdf
Wendner, Ronald and Farmer, Karl (2008): Dynamic Multi-Sector CGE Modeling -- Reply to Assmann and Hogrefe.
en
oai:mpra.ub.uni-muenchen.de:11204
2019-09-28T16:32:15Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D4C:4C31:4C3133
7375626A656374733D44:4438:443832
7375626A656374733D44:4434:443433
7375626A656374733D52:5233:523338
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/11204/
Concorrência Espacial, Sistemas de Informação e Comunicação, Pesquisa de Preços e Regulação – um ensaio para o caso do mercado de combustíveis líquidos em Portugal
Nunes, Sérgio
Amorim, Ana
D11 - Consumer Economics: Theory
L13 - Oligopoly and Other Imperfect Markets
D82 - Asymmetric and Private Information ; Mechanism Design
D43 - Oligopoly and Other Forms of Market Imperfection
R38 - Government Policy
The objective of this paper is to study the implementation of an integrated system of information, based on Geographic Information Systems (GIS) technologies, on the fossil fuels market that can bring economic benefits to the consumers, create conditions for a more effective interview of the competent regulation entity and further open a space to new managerial strategies, from fossil fuels market to one of mobile telecommunications operator, or even internet and suppliers of services that use GPS technology.
When the goods are substitutes, the price is a fundamental determinant in the acquisition and used of those goods. However, the existence of a spatial dimension on supply (producers are not located in a homogeneous space), on demand (the consumers hardly can compare the prices) and the scarcity of available information, set the conditions for market operators to nearly fixed revenues that can hardly decrease.
An instrumental objective is to offer the consumer reliable and updated information allowing him a choice inside of a certain potential demand ray which the most reduced price and the shortest road to get it.
2006
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/11204/1/MPRA_paper_11204.pdf
Nunes, Sérgio and Amorim, Ana (2006): Concorrência Espacial, Sistemas de Informação e Comunicação, Pesquisa de Preços e Regulação – um ensaio para o caso do mercado de combustíveis líquidos em Portugal. Published in: Revista Portuguesa Estudos Regionais , Vol. 3.º Qu, No. N.º 13 (2006): pp. 29-44.
pt
oai:mpra.ub.uni-muenchen.de:11645
2019-09-28T02:31:41Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/11645/
General solutions for choice sets: The Generalized Optimal-Choice Axiom set
Andrikopoulos, Athanasios
Zacharias, Eleftherios
D11 - Consumer Economics: Theory
In this paper we characterize the existence of best choices of arbitrary binary relations over non finite sets of alternatives, according to the Generalized Optimal-Choice Axiom condition introduced by Schwartz. We focus not just in the best choices of a single set X, but rather in the best choices of all the members of a family K of subsets of X. Finally we generalize earlier known results concerning the existence (or the characterization) of maximal elements of binary relations on compact subsets of a given space of alternatives.
2008
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/11645/1/MPRA_paper_11645.pdf
Andrikopoulos, Athanasios and Zacharias, Eleftherios (2008): General solutions for choice sets: The Generalized Optimal-Choice Axiom set.
en
oai:mpra.ub.uni-muenchen.de:11954
2019-09-28T11:08:05Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4438:443832
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/11954/
A proper test of overconfidence
Benoît, Jean-Pierre
Dubra, Juan
Moore, Don
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D82 - Asymmetric and Private Information ; Mechanism Design
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
In this paper we conduct two proper tests of overconfidence. We reject the hypothesis "the data cannot be generated by a rational model" in both experiments.
2008-12-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/11954/1/MPRA_paper_11954.pdf
Benoît, Jean-Pierre and Dubra, Juan and Moore, Don (2008): A proper test of overconfidence.
en
oai:mpra.ub.uni-muenchen.de:11995
2019-10-07T06:43:18Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D52:5234:523431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/11995/
The value of headway for a scheduled service
Fosgerau, Mogens
D11 - Consumer Economics: Theory
R41 - Transportation: Demand, Supply, and Congestion ; Travel Time ; Safety and Accidents ; Transportation Noise
This brief paper derives the value of headway, i.e. the time interval between departures, for a scheduled service. It presents a consistent framework in which users have scheduling costs, time costs and planning costs. The model represents both users who arrive at the station to choose
just the next departure and users who plan for a specific departure. Planning for a specific departure is costly but becomes more attractive at longer headways. Simple expressions for the user cost result. In particular,
the marginal cost of headway is large at short headways and smaller at long headways. The difference in marginal costs is the value of time multiplied by half the headway.
2008
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/11995/1/MPRA_paper_11995.pdf
Fosgerau, Mogens (2008): The value of headway for a scheduled service.
en
oai:mpra.ub.uni-muenchen.de:12243
2019-10-02T13:48:49Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4438:443831
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/12243/
Status Quo Bias, Multiple Priors and Uncertainty Aversion
Ortoleva, Pietro
D11 - Consumer Economics: Theory
D81 - Criteria for Decision-Making under Risk and Uncertainty
Motivated by the extensive evidence about the relevance of status quo bias both in experiments and in real markets, we study this phenomenon from a decision-theoretic prospective, focusing on the case of preferences under uncertainty. We develop an axiomatic framework that takes as a primitive the preferences of the agent for each possible status quo option, and provide a characterization according to which the agent prefers her status quo act if nothing better is feasible for a given set of possible priors. We then show that, in this framework, the very presence of a status quo induces the agent to be more uncertainty averse than she would be without a status quo option. Finally, we apply the model to a financial choice problem and show that the presence of status quo bias as modeled here might induce the presence of a risk premium even with risk neutral agents.
2008-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/12243/1/MPRA_paper_12243.pdf
Ortoleva, Pietro (2008): Status Quo Bias, Multiple Priors and Uncertainty Aversion.
en
oai:mpra.ub.uni-muenchen.de:12939
2019-09-27T21:51:52Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4438:443834
7375626A656374733D44:4431:443132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/12939/
Evaluating how predictable errors in expected income affect consumption
Giamboni, Luigi
Millemaci, Emanuele
Waldmann, Robert
D11 - Consumer Economics: Theory
D84 - Expectations ; Speculations
D12 - Consumer Economics: Empirical Analysis
This paper studies whether anomalies in consumption can be explained by a behavioral model in which agents make predictable errors in forecasting income. We use a micro-data set containing subjective expectations about future income. The paper shows that, the null hypothesis of rational expectations is rejected in favor of the behavioral model, since consumption responds to predictable forecast errors. On average agents who we predict are too pessimistic increase consumption after the predictable positive income shock. On average agents who are too optimistic reduce consumption.
2007-05-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/12939/1/MPRA_paper_12939.pdf
Giamboni, Luigi and Millemaci, Emanuele and Waldmann, Robert (2007): Evaluating how predictable errors in expected income affect consumption.
en
oai:mpra.ub.uni-muenchen.de:13043
2019-09-27T21:17:27Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D49:4931:493132
7375626A656374733D49:4931:493138
7375626A656374733D44:4438:443832
7375626A656374733D49:4931
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/13043/
Hopping on the Methadone Bus
Lippert, Steffen
Schumacher, Christoph
D11 - Consumer Economics: Theory
I12 - Health Behavior
I18 - Government Policy ; Regulation ; Public Health
D82 - Asymmetric and Private Information ; Mechanism Design
I1 - Health
This paper investigates the impact of a 'free drug program' on the market equilibrium of drugs. We introduce a screening model of the hard drug market in which dealers use payment and punishment options to screen between high and low risk users. We show that, if a free drug program selects sufficiently many high risk drug users, the pure-strategy separating market equilibrium ceases to exist and a symmetric mixed-strategy equilibrium results, in which drug users derive a higher expected utility. This encourages new drug users to enter the market. The novelty of the paper is the transmission mechanism for this effect, which is via the influence on market price.
2009-01-16
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/13043/1/MPRA_paper_13043.pdf
Lippert, Steffen and Schumacher, Christoph (2009): Hopping on the Methadone Bus.
en
oai:mpra.ub.uni-muenchen.de:13168
2019-09-29T20:17:22Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4438:443832
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/13168/
Does the Better-Than-Average Effect Show That People Are Overconfident?: An Experiment.
Benoît, Jean-Pierre
Dubra, Juan
Moore, Don
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D82 - Asymmetric and Private Information ; Mechanism Design
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
We conduct a proper test of the claim that people are overconfident, in the sense that they believe that they are better than others. The results of the experiment we present do not allow us to reject the hypotheses that the data has been generated by perfectly rational, unbiased, and appropriately confident agents.
2009-02-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/13168/1/MPRA_paper_13168.pdf
Benoît, Jean-Pierre and Dubra, Juan and Moore, Don (2009): Does the Better-Than-Average Effect Show That People Are Overconfident?: An Experiment.
en
oai:mpra.ub.uni-muenchen.de:13352
2019-09-27T16:27:15Z
7374617475733D707562
7375626A656374733D4F:4F31
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/13352/
Saving and real interest rates in developing countries
Reinhart, Carmen
Ostry, Jonathan
O1 - Economic Development
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
Raising real interest rates has been cited as a way to increase private saving,and thus provide the resources for growth. But this may not be a viable approach in the poorest developing countries in which most people live at subsistence level. In these situations, consumption is not very responsive to fluctuations in real interest rates and financial liberalization my not be the catalyst to higher higher saving rates.
1995
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/13352/2/MPRA_paper_13352.pdf
Reinhart, Carmen and Ostry, Jonathan (1995): Saving and real interest rates in developing countries. Published in: Finance and Development , Vol. 32, No. 4 (December 1995): pp. 16-18.
en
oai:mpra.ub.uni-muenchen.de:13385
2019-09-27T00:43:14Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D46:4631:463132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/13385/
Non-Homothetic Preferences and Labor Heterogeneity: The Effects of Income Inequality on Trade Patterns
Marcelo, Fukushima
D11 - Consumer Economics: Theory
F12 - Models of Trade with Imperfect Competition and Scale Economies ; Fragmentation
This paper builds a two-country-two-sector trade model with a monopolistically competitive sector and non-homothetic preferences. It assumes the existence of two types of goods: necessities (which are homogeneous) and luxuries (which are differentiated) and heterogeneous labor. The implications of income inequality on trade patterns are examined. It also considers the effects of redistributive policies on the
production structure and welfare of countries and concludes that: First, in autarky, the more unequal country produces a larger number of varieties; Second, the opening to trade will unambiguously increase the number of varieties consumed by any country, and hence, welfare; Third, the more equal country benefits more from trade liberalization. Fourth, a redistributive policy may harm some consumers not only by diminishing disposable income, but also by diminishing the number of varieties produced.
2008-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/13385/1/MPRA_paper_13385.pdf
Marcelo, Fukushima (2008): Non-Homothetic Preferences and Labor Heterogeneity: The Effects of Income Inequality on Trade Patterns.
en
oai:mpra.ub.uni-muenchen.de:14248
2019-09-28T05:25:41Z
7374617475733D756E707562
7375626A656374733D41:4132:413232
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/14248/
Introdução à teoria do consumidor
Vieira, Pedro Cosme da Costa
A22 - Undergraduate
D11 - Consumer Economics: Theory
This textbook supports undergraduate microeconomics students. In Chapter 1, it presents the market as three Laws of Nature: i) that supply function is the result from the decision of the sellers, ii) that demand function is the result from the decisions of buyers; iii) that the market balance the decisions of buyers with that of sellers. This chapter motivates chapter 2, which rationalizes the existence of the demand function from the Consumer Theory that assumes that consumers maximize a utility function under the income restriction and market prices.
2009-03-24
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/14248/1/MPRA_paper_14248.pdf
Vieira, Pedro Cosme da Costa (2009): Introdução à teoria do consumidor.
pt
oai:mpra.ub.uni-muenchen.de:14273
2019-09-27T02:51:58Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4439:443931
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/14273/
Spreading Academic Pay over Nine or Twelve Months: Economists Are Supposed to Know Better, but Do They Act Better?
Claar, Victor V
Diestl, Christine M
Poll, Ross D
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
Our paper empirically considers two general hypotheses related to the literature of behavioral economics. First, we test the null hypothesis that individuals behave, on average, in a manner more consistent with the rational expectations hypothesis than with the idea of self-control in the face of hyperbolic discounting in their saving decisions. Second, along a variety of dimensions, we examine whether individuals exhibit Herbert Simon’s notion that the goal formation of individuals will differ depending upon their relative levels of experience and knowledge. Perhaps there are significant differences among groups in their saving decisions that depend upon their apparent levels of intelligence, education, and knowledge. Finally, using a variety of individual-specific control variables, we test for robustness of the results.
2009
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/14273/1/MPRA_paper_14273.pdf
Claar, Victor V and Diestl, Christine M and Poll, Ross D (2009): Spreading Academic Pay over Nine or Twelve Months: Economists Are Supposed to Know Better, but Do They Act Better?
en
oai:mpra.ub.uni-muenchen.de:15107
2019-10-01T13:38:05Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D51:5132:513231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/15107/
Analyse economique de la consommation du bois de feu en regions forestieres : Leçons des zones urbaines Camerounaises
Nkamleu, Guy Blaise
Endamana, Dominique
Ndoye, Ousseynou
Gockowski, Jim
Sunderlin, Willams
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
Q21 - Demand and Supply ; Prices
This paper aims at analyzing fuel consumption in households of forest zones, and showed fuelwood’s place as energy source in the region.
The study is carried out in Cameroon and it is based on a survey done in 1996. A sample of 400 household from Yaounde, Mbalmayo and Ebolowa was used.
The results obtained confirm the importance of fuelwood, in its different forms, as a source of energy in urban areas. This importance is more observed in less urbanized town, while the others sources of energy (kerosene, gas) have a spatial repartition which is contrary to the above.
Finally, econometric analysis through estimation of Engel’s curves and calculation of income’s elasticities, exhibited negative link between income levels and fuelwood consumption.
2002
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/15107/1/MPRA_paper_15107.pdf
Nkamleu, Guy Blaise and Endamana, Dominique and Ndoye, Ousseynou and Gockowski, Jim and Sunderlin, Willams (2002): Analyse economique de la consommation du bois de feu en regions forestieres : Leçons des zones urbaines Camerounaises. Published in: Revue Science et Changements Planétaire ‘’Secheresse’’ , Vol. 13, No. 2 (2002)
fr
oai:mpra.ub.uni-muenchen.de:15157
2019-09-30T16:38:31Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/15157/
Existence, continuity and utility representation of strictly monotonic preferences on continuum of goods commodity spaces
Hervés-Beloso, Carlos
Monteiro, Paulo Klinger
D11 - Consumer Economics: Theory
B50 - General
It is an easy task for most commodity spaces, to find examples of strictly monotonic preference relations. For example, in the space of bounded sequences of real numbers.. However, it is not easy for spaces like the space of bounded functions defined in the real interval [0, 1]. In this note we investigate the roots of this difficulty. We show that strictly monotonic preferences on the space of bounded function on any set K always exist. However, if K is uncountable no such preference is continuous and none of them have a utility representation.
2009-03-14
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/15157/1/MPRA_paper_15157.pdf
Hervés-Beloso, Carlos and Monteiro, Paulo Klinger (2009): Existence, continuity and utility representation of strictly monotonic preferences on continuum of goods commodity spaces.
en
oai:mpra.ub.uni-muenchen.de:15434
2019-09-29T17:29:44Z
7374617475733D707562
7375626A656374733D42:4234:423430
7375626A656374733D44:4431:443131
7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/15434/
Mainstream Consumer Theory: Delay, Acceptance and History Texts
Drakopoulos, Stavros A.
Karayiannis, Anastassios
B40 - General
D11 - Consumer Economics: Theory
B00 - General
Consumer theory is considered to be the hard core of the neoclassical canon. The present work traces the various historical stages which led to the acceptance of the theory, and attempts to offer some possible explanations for its eventual establishment. The paper starts with a brief historical discussion of the establishment of the canon of the marginalist consumer theory. Subsequently, it discusses the main points of attack by alternative schools of thought. Finally, as part of the assessment, the paper will utilize period and phenomenological histories of thought in appraising the fashionable or non-fashionable way that this theory found a permanent place in the general texts of the history of economics. The discussion might contribute to the understanding of the dominance of mainstream consumer theory and the way that it took its paramount place in modern economics.
1999-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/15434/1/MPRA_paper_15434.pdf
Drakopoulos, Stavros A. and Karayiannis, Anastassios (1999): Mainstream Consumer Theory: Delay, Acceptance and History Texts. Published in: History of Economics Review , Vol. 30, No. Summer (1999): pp. 68-71.
en
oai:mpra.ub.uni-muenchen.de:16265
2019-09-30T02:55:59Z
7374617475733D756E707562
7375626A656374733D44:4432:443231
7375626A656374733D44:4431:443131
7375626A656374733D44:4434
7375626A656374733D43:4337:433732
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16265/
Pay What You Like
Fernandez, Jose
Nahata, Babu
D21 - Firm Behavior: Theory
D11 - Consumer Economics: Theory
D4 - Market Structure, Pricing, and Design
C72 - Noncooperative Games
We show that when a seller of a di¤erentiated good o¤ers the product allowing consumers an option to pay what they like, then all consumers will never free ride in equilibrium when their valuations of the good are positive, and, under certain conditions, all will consumers would pay. Further, for the seller this pricing could be more pro�table than uniform pricing. If consumers consider the social cost of free riding, or not paying a "fair" price, then our results show that consumers, rather than free riding, may not opt for this option. Instead, they prefer to purchase the good at the market price from a price-setting firm.
2009-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16265/1/MPRA_paper_16265.pdf
Fernandez, Jose and Nahata, Babu (2009): Pay What You Like.
en
oai:mpra.ub.uni-muenchen.de:16601
2019-09-27T16:28:35Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16601/
A selection of maximal elements under non-transitive indifferences
Alcantud, José Carlos R.
Bosi, Gianni
Zuanon, Magalì
D11 - Consumer Economics: Theory
In this work we are concerned with maximality issues under intransitivity of the indifference. Our approach relies on the analysis of "undominated maximals" (cf., Peris and Subiza, J Math Psychology 2002). Provided that an agent's binary relation is acyclic, this is a selection of its maximal elements that can always be done when the set of alternatives is finite. In the case of semiorders, proceeding in this way is the same as using Luce's selected maximals.
We put forward a sufficient condition for the existence of undominated maximals for interval orders without any cardinality restriction. Its application to certain type of continuous semiorders is very intuitive and accommodates the well-known "sugar example" by Luce.
2009-08-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16601/1/MPRA_paper_16601.pdf
Alcantud, José Carlos R. and Bosi, Gianni and Zuanon, Magalì (2009): A selection of maximal elements under non-transitive indifferences.
en
oai:mpra.ub.uni-muenchen.de:17016
2019-09-28T18:23:32Z
7374617475733D756E707562
7375626A656374733D45:4533:453332
7375626A656374733D44:4431:443131
7375626A656374733D4F:4F34:4F3431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/17016/
Consumption Externalities and Capital Accumulation in an Overlapping Generations Economy
Mino, Kazuo
E32 - Business Fluctuations ; Cycles
D11 - Consumer Economics: Theory
O41 - One, Two, and Multisector Growth Models
This paper extends the standard overlapping generations model of capital accumulation by introducing consumption externalities. It is assumed that each generation's felicity depends on the social level of benchmark consumption as well as on its own consumption. Since the benchmark consumption is represented by the average consumption of all agents, the contemporaneous consumption externalities are determined by both intragenerational and intergenerational interactions among the consumers. Given this setting, we show that even in a simple model with a logarithmic utility function, the presence of consumption externalities may significantly affect the dynamic behavior and steady-state characterization of the economy. We also reveal that the same conclusion holds in an endogenous growth model in which production externalities sustain continuing growth.
2006-03
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/17016/1/MPRA_paper_17016.pdf
Mino, Kazuo (2006): Consumption Externalities and Capital Accumulation in an Overlapping Generations Economy.
en
oai:mpra.ub.uni-muenchen.de:18019
2019-09-27T02:58:48Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D52:5234:523430
7375626A656374733D44:4431:443132
7375626A656374733D51:5135:513533
7375626A656374733D51:5130:513031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18019/
Environmentally Unfriendly Consumption Behaviour: Theoretical and Empirical Evidence from Private Motorists in Mexico City
Alva González, Miguel Ángel
D11 - Consumer Economics: Theory
R40 - General
D12 - Consumer Economics: Empirical Analysis
Q53 - Air Pollution ; Water Pollution ; Noise ; Hazardous Waste ; Solid Waste ; Recycling
Q01 - Sustainable Development
This dissertation treats the topic of environmentally unfriendly consumption behaviour in relation to air pollution and the use of automobiles in Mexico City by analyzing three related aspects: i) relevant factors of driving patterns, ii) differences in the extent of pollution arising from environmentally friendlier vehicle use, and iii) the attitude of private motorists regarding the adoption of environmentally friendlier behaviour. The research includes not only economic but also social considerations. The specific objectives are to a) determine driving patterns specific to the Distrito Federal (core of the Mexico City Metropolitan Area), b) assess the behaviour of the driver regarding vehicle use and c) assess the conditions under which a switch to environmentally friendly alternatives related automobile use is possible. These objectives are analyzed using the approach of the Lancaster model of consumer behaviour with quantitative (the Distrito Federal’s Vehicle Verification Program 2003-2004 information) and qualitative (a Mexico City’s 2006 survey about consumers’ car preferences) data in three regression models: linear, logit and multinomial logit. The findings of the research are compared with the results of other related studies and with programs that have been implemented to date.
The study demonstrates that several structural and behavioural factors determine the level of impact that private motorists have on urban air pollution. Also, it is demonstrated that the relation that motorists have with their vehicles revolves around function and use rather than simple ownership. In this sense, the more important results are that factors like income or purchase price do not explain automobile use; attitudes or personal attributes explain the behaviour much better than purely economic factors or the vehicle itself. One main conclusion is that the program implemented thus far to control vehicle use and alleviate air pollution in Mexico City has actually contributed to increased automobile use. In general, the approach applied demonstrates that sociological context is an intrinsic part of motorist choices regarding vehicle use, and that perceptions and attitudes influence motorists decisions.
2008-04-14
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18019/1/MPRA_paper_18019.pdf
Alva González, Miguel Ángel (2008): Environmentally Unfriendly Consumption Behaviour: Theoretical and Empirical Evidence from Private Motorists in Mexico City.
en
oai:mpra.ub.uni-muenchen.de:18275
2019-09-27T09:31:49Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D47:4731:473138
7375626A656374733D44:4430:443032
7375626A656374733D44:4438:443832
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18275/
Das Goodwill-Modell des Wettbewerbsmarktes: Vertrauen ermöglichen und Arbeitsplätze schaffen
Rapold, Ingo
D11 - Consumer Economics: Theory
G18 - Government Policy and Regulation
D02 - Institutions: Design, Formation, Operations, and Impact
D82 - Asymmetric and Private Information ; Mechanism Design
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
The Goodwill Model of the Competitive Market
Allowing for Trust and Creating Jobs
Consumers often cannot judge the quality of goods and services at the time of the purchase decision. The goodwill model explains how the market participants deal with this problem. It makes a distinction between markets for search goods, experience goods and credence goods. In markets for experience goods the goodwill mechanism can ensure completely by itself that suppliers behave with integrity. The goodwill mechanism causes irreversible costs of the market entrance in the form of goodwill investments for new suppliers. These irreversible costs of the market entrance lead to the fact that established suppliers can permanently achieve prize and volume premiums if they behave with integrity. Established suppliers, therefore, abstain from a hidden reduction of the quality of their products. The strength of the goodwill mechanism lies in the fact that it adapts itself in markets for experience goods to changed circumstances of the market by changes in the communications behavior of the market participants and thereby it stabilizes the market development and optimizes the market result. Markets for credence goods, however, are, in spite of the social institution Goodwill, characterized by market failure. The root causes for this result are selected sporadic bad quality deliveries which cannot be recognized by the consumers as those. Suitable regulations to stabilize markets for credence goods artificially generate irreversible costs of the market entrance for new suppliers. These created irreversible costs enable the established suppliers of credence goods to permanently earn positive economic profits by behaving with integrity. Numerous regulations which exist today in functioning markets for credence goods establish such irreversible costs of the market entrance. The abolition of such regulations can lead to market failure. An example having a lasting effect even today is the transformation which occurred between 1980 and 1999 of the US banking system which developed from a system of separated commercial and investment banks to a system of fully integrated banks.
2009-10-31
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18275/1/MPRA_paper_18275.pdf
Rapold, Ingo (2009): Das Goodwill-Modell des Wettbewerbsmarktes: Vertrauen ermöglichen und Arbeitsplätze schaffen.
de
oai:mpra.ub.uni-muenchen.de:18344
2019-10-02T06:57:05Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4439:443931
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18344/
Spreading Academic Pay over Nine or Twelve Months: Economists Are Supposed to Know Better, but Do They Act Better?
Claar, Victor V
Diestl, Christine M
Poll, Ross D
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
Our paper empirically considers two general hypotheses related to the literature of behavioral economics. First, we test the null hypothesis that individuals behave, on average, in a manner more consistent with the rational expectations hypothesis than with the idea of self-control in the face of hyperbolic discounting in their saving decisions. Second, along a variety of dimensions, we examine whether individuals exhibit Herbert Simon’s notion that the goal formation of individuals will differ depending upon their relative levels of experience and knowledge. Perhaps there are significant differences among groups in their saving decisions that depend upon their apparent levels of intelligence, education, and knowledge. Finally, using a variety of individual-specific control variables, we test for robustness of the results.
2009-10-20
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18344/2/MPRA_paper_18344.pdf
Claar, Victor V and Diestl, Christine M and Poll, Ross D (2009): Spreading Academic Pay over Nine or Twelve Months: Economists Are Supposed to Know Better, but Do They Act Better?
en
oai:mpra.ub.uni-muenchen.de:18673
2019-09-28T22:18:48Z
7374617475733D756E707562
7375626A656374733D44:4430:443033
7375626A656374733D44:4431:443131
7375626A656374733D44:4430:443031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18673/
Consumer theory with bounded rational preferences
Gerasimou, Georgios
D03 - Behavioral Microeconomics: Underlying Principles
D11 - Consumer Economics: Theory
D01 - Microeconomic Behavior: Underlying Principles
The neoclassical consumer maximizes utility and makes choices by completely preordering the feasible alternatives and weighing when indifferent. The consumer studied in this paper chooses by weighing when indifferent and also when indecisive, without necessarily preordering the alternatives
or exhausting her budget. Preferences therefore need not be complete, transitive or non-satiated but are assumed strictly convex and "adaptive". The latter axiom is new and parallels that of ambiguity aversion in choice under uncertainty.
2009-01-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18673/1/MPRA_paper_18673.pdf
Gerasimou, Georgios (2009): Consumer theory with bounded rational preferences.
en
oai:mpra.ub.uni-muenchen.de:20134
2019-09-26T14:55:56Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D43:4331:433135
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/20134/
Goodness of fit in optimizing consumer's model
Alcantud, José Carlos R.
Matos, Daniel L.
Palmero, Carlos R.
D11 - Consumer Economics: Theory
C15 - Statistical Simulation Methods: General
We provide two new indices of efficiency for determining the degree of coherence in an agent's consumption decisions.
We analyze to which extent they improve the efficiency displayed by Varian's (Journal of Econometrics, 1990) index.
We report on the results of a Montecarlo experiment that confirms that strict improvements of Varian's vector-index appear on a regular basis.
2009-09-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/20134/1/MPRA_paper_20134.pdf
Alcantud, José Carlos R. and Matos, Daniel L. and Palmero, Carlos R. (2009): Goodness of fit in optimizing consumer's model.
en
oai:mpra.ub.uni-muenchen.de:20158
2019-09-27T18:06:20Z
7374617475733D756E707562
7375626A656374733D44:4430:443033
7375626A656374733D44:4431:443131
7375626A656374733D44:4438:443834
7375626A656374733D43:4337:433731
7375626A656374733D44:4438:443832
7375626A656374733D43:4337:433732
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/20158/
Información y persuasión en los mercados financieros
Estrada, Fernando
D03 - Behavioral Microeconomics: Underlying Principles
D11 - Consumer Economics: Theory
D84 - Expectations ; Speculations
C71 - Cooperative Games
D82 - Asymmetric and Private Information ; Mechanism Design
C72 - Noncooperative Games
This paper aims to defend the importance of the information and persuasion in financial markets. The conviction relates to the developments of Argumentation Theory (AT). Understand that economic agents react according to the information they have, and that beliefs play an important role because it motivates the decisions to be made in certain circumstances. This paper is the first part will be illustrated in a second installment to the study of specific cases.
2010-01-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/20158/1/MPRA_paper_20158.pdf
Estrada, Fernando (2010): Información y persuasión en los mercados financieros.
es
oai:mpra.ub.uni-muenchen.de:20161
2019-09-26T20:34:42Z
7374617475733D756E707562
7375626A656374733D44:4430:443033
7375626A656374733D44:4437:443730
7375626A656374733D44:4431:443131
7375626A656374733D43:4337:433730
7375626A656374733D44:4438:443835
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/20161/
Los mercados de opinión pública
Estrada, Fernando
D03 - Behavioral Microeconomics: Underlying Principles
D70 - General
D11 - Consumer Economics: Theory
C70 - General
D85 - Network Formation and Analysis: Theory
B41 - Economic Methodology
This paper proposes a central idea in diffusion research is that influential –a minority of individuals who influence an exceptional number of their peers- are important to formation of public opinion. Here we examine this idea, which we call the “influential hypothesis”, using the experiments of Watts-Salganik-Dodds in computer simulation of interpersonal influence processes with the works of Herbert Simon in “Bounded Rationality”. Under most conditions that we consider, we find that large cascades of influence are driven not by influential, but by a critical mass of easily influenced individuals. Although our results do no exclude the possibility that influential can be important, they suggest that the influential hypothesis requires more careful specification and testing than it has received.
2010-01-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/20161/1/MPRA_paper_20161.pdf
Estrada, Fernando (2010): Los mercados de opinión pública.
es
oai:mpra.ub.uni-muenchen.de:20197
2019-09-26T09:35:01Z
7374617475733D696E7072657373
7375626A656374733D44:4431:443131
7375626A656374733D4F:4F33:4F3333
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/20197/
An Evolutionary Theory of Household Consumption Behavior
Nelson, Richard
Consoli, Davide
D11 - Consumer Economics: Theory
O33 - Technological Change: Choices and Consequences ; Diffusion Processes
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
Evolutionary economics badly needs a behavioral theory of household consumption behavior, but to date only limited progress has been made on that front. Partly because Schumpeter's own writings were focused there, and partly because this has been the focus of most of the more recent empirical work on technological change, modern evolutionary economists have focused on the "supply side". However, because a significant portion of the innovation going on in capitalist countries has been in the form of new consumer goods and services, it should be obvious that dealing coherently with the Schumpeterian agenda requires a theory which treats in a realistic way how consumers respond to new goods and services. The purpose of this essay is to map out a broad alternative to the neoclassical theory of consumer behavior.
2010-01-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/20197/1/MPRA_paper_20197.pdf
Nelson, Richard and Consoli, Davide (2010): An Evolutionary Theory of Household Consumption Behavior. Forthcoming in: Journal of Evolutionary Economics
en
oai:mpra.ub.uni-muenchen.de:20540
2019-09-27T06:16:07Z
7374617475733D756E707562
7375626A656374733D51:5131
7375626A656374733D44:4431:443131
7375626A656374733D44:4439:443931
7375626A656374733D50:5034:503436
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/20540/
A Theoretical Framework for Country-of-Origin-Research in the Food sector
Profeta, Adriano
Q1 - Agriculture
D11 - Consumer Economics: Theory
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
P46 - Consumer Economics ; Health ; Education and Training ; Welfare, Income, Wealth, and Poverty
The main advancement of the developed theoretical framework for Country-of-Origin (CO) research in this paper is the holistic consideration of CO in consumer choice that is missing in older works as for example made by ITTERSUM (2003) or JAFFE AND NEBENZAHL (2001). These and other researchers describe a lot of aspects of the CO effect separately and inde-pendent from each other without paying a lot attention to the interdependencies. Furthermore the offered model integrates new but important impact factors on the CO effect. The devel-oped theoretical framework has to be tested empirical and therefore call for future CO re-search in the food sector.
2008
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/20540/1/MPRA_paper_20540.pdf
Profeta, Adriano (2008): A Theoretical Framework for Country-of-Origin-Research in the Food sector.
en
oai:mpra.ub.uni-muenchen.de:21265
2019-10-25T05:26:39Z
oai:mpra.ub.uni-muenchen.de:21521
2013-03-10T08:02:06Z
oai:mpra.ub.uni-muenchen.de:21558
2019-09-28T16:51:10Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/21558/
Transaction, Search and Switching Costs: An Expository Essay
Singh, Nirvikar
D11 - Consumer Economics: Theory
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
This essay provides an elementary, unified introduction to the impacts of transaction, search and switching costs on resource allocation in competitive markets. The emphasis is on incorporating these phenomena into models of price-taking behavior, rather than the more usual treatments with imperfect competition.
2010-03-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/21558/1/MPRA_paper_21558.pdf
Singh, Nirvikar (2010): Transaction, Search and Switching Costs: An Expository Essay.
en
oai:mpra.ub.uni-muenchen.de:22201
2019-09-26T17:56:30Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4439:443930
7375626A656374733D43:4336:433632
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22201/
Модели равновесного экономического роста
Polterovich, Victor
D11 - Consumer Economics: Theory
D90 - General
C62 - Existence and Stability Conditions of Equilibrium
We develop a turnpike theory for a class of dynamic general equilibrium models where total demand function satisfy monotonicity conditions. As special cases, we receive well known results about asymptotic behavior of optimal paths.
1976
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22201/1/MPRA_paper_22201.pdf
Polterovich, Victor (1976): Модели равновесного экономического роста. Published in: Economics and Mathematical Methods / Ekonomika i matematicheskie metody , Vol. 12, No. 3 (1976): pp. 527-540.
ru
oai:mpra.ub.uni-muenchen.de:22932
2019-09-27T09:55:10Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D44:4430:443031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22932/
Demand for Meat; Seprability and Structural changes (A Nonparametric Analysis)
Aziz, Babar
Shahnawaz, Malik
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
D01 - Microeconomic Behavior: Underlying Principles
This study provides information on the structure of the consumer demand for meat group (1950-51 to 2004-2005) in Pakistan. Nonparametric tests were used on the data set to check the consistency of the data with the theory of revealed preferences, e.g. the Afriat inequalities, GARP and the condition of weak separability. We started with 26 different consumer commodities and employed nonparametric tests to the different groups of commodities. But all other groups except meat group showed violations of generalized axiom of revealed preferences (GARP). So we limited our analysis only to meat group. It was found that there was no violation of GARP in our data set and hence consistent with Afriat inequalities. The data set also met the condition of weak separability. These test procedures imply that the data could have been generated by stable preferences. Furthermore, the existence and the nature of the structural change is checked by using GARP. Tests of structural change do support a shift in demand for fish in 1991-92.
2005
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22932/1/MPRA_paper_22932.pdf
Aziz, Babar and Shahnawaz, Malik (2005): Demand for Meat; Seprability and Structural changes (A Nonparametric Analysis). Published in: Journal of Research , Vol. 25, No. 1 (2005): pp. 111-120.
en
oai:mpra.ub.uni-muenchen.de:22948
2019-09-27T10:03:48Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D43:4336:433633
7375626A656374733D44:4438:443832
7375626A656374733D43:4337:433738
7375626A656374733D42:4234:423430
7375626A656374733D43:4330:433032
7375626A656374733D43:4336:433632
7375626A656374733D45:4532:453230
7375626A656374733D41:4131:413134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22948/
Landscape in the Economy of Conspicuous Consumptions
Situngkir, Hokky
D11 - Consumer Economics: Theory
C63 - Computational Techniques ; Simulation Modeling
D82 - Asymmetric and Private Information ; Mechanism Design
C78 - Bargaining Theory ; Matching Theory
B40 - General
C02 - Mathematical Methods
C62 - Existence and Stability Conditions of Equilibrium
E20 - General
A14 - Sociology of Economics
Psychological states side by side with the bounded rational expectations among social agents contributes to the pattern of consumptions in economic system. One of the psychological states are the envy – a tendency to emulate any gaps with other agents’ properties. The evolutionary game theoretic works on conspicuous consumption are explored by growing the micro-view of economic agency in lattice-based populations, the landscape of consumptions. The emerged macro-view of multiple equilibria is shown in computational simulative demonstrations altogether with the spatial clustered agents based upon the emerged agents’ economic profiles.
2010-05-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22948/1/MPRA_paper_22948.pdf
Situngkir, Hokky (2010): Landscape in the Economy of Conspicuous Consumptions. Published in: BFI Working Paper Series , Vol. WP-E-2, (7 May 2010)
en
oai:mpra.ub.uni-muenchen.de:23117
2019-10-01T09:21:07Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4436:443634
7375626A656374733D4A:4A32:4A3232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/23117/
Rewarding my Self. The role of Self Esteem and Self Determination in Motivation Crowding Theory
Bruno, B.
D11 - Consumer Economics: Theory
D64 - Altruism ; Philanthropy
J22 - Time Allocation and Labor Supply
The paper aims to reconcile different explanations (and consequences) of the motivation crowding theory in a unique theoretical framework where the locus of control is introduced in a one period maximisation problem and the intrinsic motivation is assumed as an exogenous psychological attitude. The analysis is based on the distinction among different types of objectives of the intrinsic motivation. For each type of objective, the different role of self esteem and self determination mechanisms determine different conditions for crowding out of intrinsic motivation, depending on the self determination sensitivity, its impact on the motivated good and the individual belief about one’s own self.
2010-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/23117/1/MPRA_paper_23117.pdf
Bruno, B. (2010): Rewarding my Self. The role of Self Esteem and Self Determination in Motivation Crowding Theory.
en
oai:mpra.ub.uni-muenchen.de:23980
2019-10-09T17:23:24Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/23980/
The history of the mainstream rejection of interdependent preferences
Drakopoulos, Stavros A.
D11 - Consumer Economics: Theory
B00 - General
The notion of interdependent preferences has a long history in economic thought. It can be found in the works of authors such as Hume, Rae, Genovesi, Smith, Marx and Mill among others. In the 20th century, the idea became more widespread mainly through the works of Veblen and Duesenberry. Recently, an increasing number of theorists are interested in issues like reference income, relative consumption and positional goods which are all based on the concept of interdependent preferences. However, such preferences were never part of the corpus of orthodox theory. For instance, although Pareto and Marshall were aware of their existence, they rejected their incorporation into economic theory. There were various reasons for this rejection. The structure of mainstream economic methodology might be one reason. Another reason had to do with the theoretical implications of adopting interdependent preferences. The paper discusses the main historical aspects of this idea in relation to the mainstream resistance to incorporate it in orthodox economic theory.
2010-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/23980/1/MPRA_paper_23980.pdf
Drakopoulos, Stavros A. (2010): The history of the mainstream rejection of interdependent preferences.
en
oai:mpra.ub.uni-muenchen.de:24159
2019-09-28T12:12:00Z
7374617475733D696E7072657373
7375626A656374733D44:4431:443131
7375626A656374733D44:4439:443931
7375626A656374733D44:4434:443430
7375626A656374733D4F:4F33:4F3333
7375626A656374733D4C:4C31:4C3136
7375626A656374733D45:4531:453131
7375626A656374733D4C:4C31:4C3135
7375626A656374733D4F:4F33:4F3331
7375626A656374733D45:4532:453230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24159/
Evolution of Consumers’ Preferences due to Innovation
Dahlan, Rolan Mauludy
Situngkir, Hokky
D11 - Consumer Economics: Theory
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
D40 - General
O33 - Technological Change: Choices and Consequences ; Diffusion Processes
L16 - Industrial Organization and Macroeconomics: Industrial Structure and Structural Change ; Industrial Price Indices
E11 - Marxian ; Sraffian ; Kaleckian
L15 - Information and Product Quality ; Standardization and Compatibility
O31 - Innovation and Invention: Processes and Incentives
E20 - General
The integration process between evolutionary approach and conventional economic analysis is very essential for the next development of economic studies, especially in the fundamental concepts of modern economics: supply and demand analysis. In this presentation, we use the concept of meme to explore evolution of demand. This study offers an evolutionary model of demand, which views utility as a function of the distance between the two types of sequences of memes (memeplex), which represent economic product and consumer preference. It is very different from the conventional approach of demand, which only views utility as a function of quantity. This modification provides an opportunity to see innovation and transformation of consumer preferences in the demand perspective. Innovation is seen as a change in sequence of memes in economic products, while the transformation of consumer behavior is defined as a change in the aligning memes of consumer preference. Demand quantity is the result of the selection process. This model produces some interesting characteristics, such as: (i) quantitative and qualitative properties of evolution of demand, (ii) relationship between consumer behavior and properties of evolution of demand that occurred and (iii) power law on the distribution of product lifetime. At the end we show the improvement of utility function, in the concept of meme, might create a new landscape for the further development of economics.
2010-07-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24159/1/MPRA_paper_24159.pdf
Dahlan, Rolan Mauludy and Situngkir, Hokky (2010): Evolution of Consumers’ Preferences due to Innovation. Forthcoming in: WP-6-2010 No. BFI Working Paper Series (29 July 2010)
en
oai:mpra.ub.uni-muenchen.de:24314
2013-02-11T11:27:25Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D43:4336:433630
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24314/
A generalization of Rader's utility representation theorem
Bosi, Gianni
Zuanon, Magalì
D11 - Consumer Economics: Theory
C60 - General
Rader's utility representation theorem guarantees the existence of an upper semicontinuous utility function for any upper semicontinuous total preorder on a second countable topological space. In this paper we present a generalization of Rader's theorem to not necessarily total preorders that are weakly upper semicontinuous.
2010-08-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24314/1/MPRA_paper_24314.pdf
Bosi, Gianni and Zuanon, Magalì (2010): A generalization of Rader's utility representation theorem.
en
oai:mpra.ub.uni-muenchen.de:24910
2019-09-26T15:55:37Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4433:443331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24910/
Conspicuous Consumption and Inequality
Harriger, Jessica
Khanna, Neha
Pape, Andreas
D11 - Consumer Economics: Theory
D31 - Personal Income, Wealth, and Their Distributions
We analyze the change in consumer demand following a mean preserving change in consumption inequality when there is conspicuous consumption. We model interdependent preferences including “keeping up with the Joneses” (imitating others) and “running away from the Joneses” (distinguishing oneself from others) with multiple peer groups and peer group effects (envy and snob effects). An individual not directly involved in the redistribution increases consumption of the more conspicuous good when she demonstrates i) ‘keeping up’ and a relatively stronger envy effect, or ii) ‘running away’ and a relatively stronger snob effect. Behaviors generated by existing models emerge as special cases.
2010-04-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24910/1/MPRA_paper_24910.pdf
Harriger, Jessica and Khanna, Neha and Pape, Andreas (2010): Conspicuous Consumption and Inequality.
en
oai:mpra.ub.uni-muenchen.de:24933
2019-10-01T05:21:54Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24933/
The history of the mainstream rejection of interdependent preferences
Drakopoulos, Stavros A.
D11 - Consumer Economics: Theory
B00 - General
The notion of interdependent preferences has a long history in economic thought. It can be found in the works of authors such as Hume, Rae, Genovesi, Smith, Marx and Mill among others. In the 20th century, the idea became more widespread mainly through the works of Veblen and Duesenberry. Recently, an increasing number of theorists are interested in issues like reference income, relative consumption and positional goods which are all based on the concept of interdependent preferences. However, such preferences were never part of the corpus of orthodox theory. For instance, although Pareto and Marshall were aware of their existence, they rejected their incorporation into economic theory. There were various reasons for this rejection. The structure of mainstream economic methodology might be one reason. Another reason had to do with the theoretical implications of adopting interdependent preferences. The paper discusses the main historical aspects of this idea in relation to the mainstream resistance to incorporate it in orthodox economic theory.
2010-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24933/1/MPRA_paper_24933.pdf
Drakopoulos, Stavros A. (2010): The history of the mainstream rejection of interdependent preferences.
en
oai:mpra.ub.uni-muenchen.de:25481
2019-09-29T04:27:27Z
7374617475733D756E707562
7375626A656374733D44:4430:443033
7375626A656374733D44:4431:443131
7375626A656374733D44:4430:443031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/25481/
Rational indecisive choice
Gerasimou, Georgios
D03 - Behavioral Microeconomics: Underlying Principles
D11 - Consumer Economics: Theory
D01 - Microeconomic Behavior: Underlying Principles
This paper proposes and characterises two preference-based choice rules that allow the decision maker to choose nothing if the criteria associated with them are satisfied by no feasible alternative. Strict preferences are primitive in the first rule and weak preferences in the second. Each of them includes the corresponding utility-maximisation theory of rational choice as a special case. The first one explains changes in the magnitude of context effects observed in experiments that allow for indecision. The second offers one explanation of experimental findings suggesting that choice is more likely to be made from small rather than from large sets. The general conclusion in both cases is that an individual conforms to meaningful and testable principles of choice consistency whenever assumed to be occasionally indecisive.
2010-09-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/25481/1/MPRA_paper_25481.pdf
Gerasimou, Georgios (2010): Rational indecisive choice.
en
oai:mpra.ub.uni-muenchen.de:25508
2019-10-07T18:53:30Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D45:4531:453132
7375626A656374733D45:4533:453331
7375626A656374733D44:4434:443430
7375626A656374733D45:4536:453633
7375626A656374733D47:4730:473031
7375626A656374733D43:4337:433738
7375626A656374733D48:4836:483630
7375626A656374733D45:4535:453530
7375626A656374733D44:4436:443631
7375626A656374733D45:4534:453430
7375626A656374733D44:4430:443031
7375626A656374733D46:4633:463331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/25508/
Market Myths in Contemporary Economics
Punabantu, Siize
D11 - Consumer Economics: Theory
E12 - Keynes ; Keynesian ; Post-Keynesian
E31 - Price Level ; Inflation ; Deflation
D40 - General
E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy ; Stabilization ; Treasury Policy
G01 - Financial Crises
C78 - Bargaining Theory ; Matching Theory
H60 - General
E50 - General
D61 - Allocative Efficiency ; Cost-Benefit Analysis
E40 - General
D01 - Microeconomic Behavior: Underlying Principles
F31 - Foreign Exchange
This paper elaborates on the economic operating system (EOS) the role it can play in growth. It focuses on markets, price determination and forces of demand and supply in order to illustrate how an EOS model offers greater economic growth, stability and safety. This paper delves into market theory to determine whether what is commonly understood about market forces and free markets in contemporary economics is as reliable as might be expected; do free markets encourage or retard economic growth? It is often, for amusement, brought up how modern medicine despite its advances cannot cure the common cold. Contemporary economics has a similar pet peeve; it does not know how to cure common inflation and deflation. The same way medicine leaves the body’s immune system to deal with colds until a cure is found contemporary economics leaves inflation and deflation to market forces to sort out with the occasional booster shot of intervention when this process seems to fail. To this day the stand off between Keynesian and Monetarist models demonstrates the irascible nature of this economic bug; is seems in contemporary economics there is only one way to control it and that’s do nothing about it. This nothing in contemporary economics is what is referred to as free markets. Allowing free markets to set prices and act as a mechanism for managing inflation works, what doesn’t work is that free markets systems based on a Monetarist model lack reliable growth and not being able to do anything comprehensive when market forces begin to act up. In a downturn, suddenly the liberty of free markets can become a threat to economic stability. Free markets may work best in an economic operating system (EOS) model better able to exploit the efficiency of markets whilst accelerating economic growth.
2010-10-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/25508/1/MPRA_paper_25508.pdf
Punabantu, Siize (2010): Market Myths in Contemporary Economics. Published in:
en
oai:mpra.ub.uni-muenchen.de:25669
2019-10-01T05:46:18Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D45:4531:453132
7375626A656374733D45:4533:453331
7375626A656374733D44:4434:443430
7375626A656374733D45:4536:453633
7375626A656374733D47:4730:473031
7375626A656374733D43:4337:433738
7375626A656374733D48:4836:483630
7375626A656374733D45:4535:453530
7375626A656374733D44:4436:443631
7375626A656374733D45:4534:453430
7375626A656374733D44:4430:443031
7375626A656374733D46:4633:463331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/25669/
Market Myths in Contemporary Economics
Punabantu, Siize
D11 - Consumer Economics: Theory
E12 - Keynes ; Keynesian ; Post-Keynesian
E31 - Price Level ; Inflation ; Deflation
D40 - General
E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy ; Stabilization ; Treasury Policy
G01 - Financial Crises
C78 - Bargaining Theory ; Matching Theory
H60 - General
E50 - General
D61 - Allocative Efficiency ; Cost-Benefit Analysis
E40 - General
D01 - Microeconomic Behavior: Underlying Principles
F31 - Foreign Exchange
This paper elaborates on the economic operating system (EOS) the role it can play in growth. It focuses on markets, price determination and forces of demand and supply in order to illustrate how an EOS model offers greater economic growth, stability and safety. It delves into market theory to determine whether what is commonly understood about market forces and free markets in contemporary economics is as reliable as might be expected; do free markets encourage or retard economic growth? It is often, for amusement, brought up how modern medicine despite its advances cannot cure the common cold. Contemporary economics has a similar pet peeve; it does not know how to cure common inflation and deflation. The same way medicine leaves the body’s immune system to deal with colds until a cure is found contemporary economics leaves inflation and deflation to market forces to sort out with the occasional booster shot of intervention when this process seems to fail. To this day the stand off between Keynesian and Monetarist models demonstrates the irascible nature of this economic bug; it seems in contemporary economics there is only one way to control it and that’s do nothing about it. This nothing in contemporary economics is what is referred to as free markets. Allowing free markets to set prices and act as a mechanism for managing inflation works, what doesn’t work is that free markets systems based on a Monetarist model lack reliable growth and not being able to do anything comprehensive when market forces begin to act up. In a downturn, suddenly the liberty of free markets can become a threat to economic stability. Free markets may work best in an economic operating system (EOS) model better able to exploit the efficiency of markets. whilst accelerating economic growth.
2010-10-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/25669/1/MPRA_paper_25669.pdf
Punabantu, Siize (2010): Market Myths in Contemporary Economics. Published in:
en
oai:mpra.ub.uni-muenchen.de:26593
2019-10-03T20:32:03Z
7374617475733D756E707562
7375626A656374733D44:4431:443138
7375626A656374733D44:4431:443131
7375626A656374733D42:4233:423330
7375626A656374733D44:4431:443133
7375626A656374733D44:4430:443033
7375626A656374733D43:4336:433635
7375626A656374733D42:4235:423532
7375626A656374733D47:4732:473238
7375626A656374733D43:4332:433231
7375626A656374733D44:4436:443630
7375626A656374733D47:4732:473231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/26593/
Demand for Self Control: A model of Consumer Response to Programs and Products that Moderate Consumption
Berg, Nathan
Kim, Jeong-Yoo
D18 - Consumer Protection
D11 - Consumer Economics: Theory
B30 - General
D13 - Household Production and Intrahousehold Allocation
D03 - Behavioral Microeconomics: Underlying Principles
C65 - Miscellaneous Mathematical Tools
B52 - Institutional ; Evolutionary
G28 - Government Policy and Regulation
C21 - Cross-Sectional Models ; Spatial Models ; Treatment Effect Models ; Quantile Regressions
D60 - General
G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages
Is it better to apply effort to increase personal consumption, or control what one wants? The model presented here provides a characterization of demand for self control, namely, its responsiveness to price and risk. Unlike most other models of self control, the model does not identify self control with time inconsistency or rely on the multiple-selves framework. Self control refers to resources allocated to preference transformation technology enabling consumers to moderate desire for ordinary consumption by reducing threshold levels required to achieve goals or target-levels of consumption. Consumers face a choice between allocating resources toward increasing expected levels of consumption or increasing chances of contentment through self control. Because of strong income effects, demand for self control turns out to be non-monotonic in price and sometimes discontinuous, revealing potential for unanticipated and sometimes surprisingly large responses to small changes in price. The model is used to analyze consumers’ willingness to follow new regulations, take up credit counseling, enroll in financial literacy programs, and purchase products aimed at improving financial decision making through cultivation of self control.
2010
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/26593/1/MPRA_paper_26593.pdf
Berg, Nathan and Kim, Jeong-Yoo (2010): Demand for Self Control: A model of Consumer Response to Programs and Products that Moderate Consumption.
en
oai:mpra.ub.uni-muenchen.de:26769
2019-09-30T16:50:11Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/26769/
The history of the mainstream rejection of interdependent preferences
Drakopoulos, Stavros A.
D11 - Consumer Economics: Theory
B00 - General
The notion of interdependent preferences has a long history in economic thought. It can be found in the works of authors such as Hume, Rae, Genovesi, Smith, Marx and Mill among others. In the 20th century, the idea became more widespread mainly through the works of Veblen and Duesenberry. Recently, an increasing number of theorists are interested in issues like reference income, relative consumption and positional goods which are all based on the concept of interdependent preferences. However, such preferences were never part of the corpus of orthodox theory. For instance, although Pareto and Marshall were aware of their existence, they rejected their incorporation into economic theory. There were various reasons for this rejection. The structure of mainstream economic methodology might be one reason. Another reason had to do with the theoretical implications of adopting interdependent preferences. The paper discusses the main historical aspects of this idea in relation to the mainstream resistance to incorporate it in orthodox economic theory.
2010-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/26769/2/MPRA_paper_26769.pdf
Drakopoulos, Stavros A. (2010): The history of the mainstream rejection of interdependent preferences.
en
oai:mpra.ub.uni-muenchen.de:26930
2019-09-26T12:19:41Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4431:443132
7375626A656374733D52:5232:523230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/26930/
Diversion of loan use: who diverts and why?
Khaleque, Abdul
D11 - Consumer Economics: Theory
D12 - Consumer Economics: Empirical Analysis
R20 - General
This paper uses 2973 loan profile records of 2810 poor households who have taken these loans from different quasi-formal sources of which about 50 percent of the loan taken is supplied by the Ultra-poor oriented program designed by PKSF. The objective of this program was to create some income source for these Ultra-poor through credit support. But diversion of loan use from the proposed IGA to other non-productive sector, especially to consumption hinders the objects and at the same time causes a threat to the MFIs as some of them become default. We observe that among these Ultra-poor households who have taken loan, about 68 percent of the loan was diverted from the proposed IGA to other activity with different degree of diversion and of these diverted loan, 40 percent was fully diverted. We find that among the non-savers, wage employers, inhabitants of char have higher likelihood of diverting their received loan from the proposed IGA to others and more than 28 percent of each loan on average was used for consumption.
2010-11-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/26930/1/MPRA_paper_26930.pdf
Khaleque, Abdul (2010): Diversion of loan use: who diverts and why?
en
oai:mpra.ub.uni-muenchen.de:27472
2019-09-29T04:39:53Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4436:443633
7375626A656374733D44:4439:443931
7375626A656374733D49:4933
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/27472/
Conflicting Measures of Poverty and Inadequate Saving by the Poor – The Role of Status Driven Utility Function
Marjit, Sugata
Roy, Ranjan
D11 - Consumer Economics: Theory
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
I3 - Welfare, Well-Being, and Poverty
In presence of inequality a status driven utility function reconciles the conflict between income based and nutrition based measures of poverty. Moreover, it can explain why the poor tend to save less, an established empirical fact in the developing countries. The result is independent of the assumption of imperfect capital market. The paper attempts to integrate various strands of literature on status effects.
2010-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/27472/1/MPRA_paper_27472.pdf
Marjit, Sugata and Roy, Ranjan (2010): Conflicting Measures of Poverty and Inadequate Saving by the Poor – The Role of Status Driven Utility Function.
en
oai:mpra.ub.uni-muenchen.de:27504
2019-10-08T05:55:37Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D43:4336:433631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/27504/
On the existence of most-preferred alternatives in complete lattices
Kukushkin, Nikolai S.
D11 - Consumer Economics: Theory
C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis
If a preference ordering on a complete lattice is
quasisupermodular, or just satisfies a rather weak analog of the condition, then it admits a maximizer on every subcomplete sublattice if and only if it admits a maximizer on every subcomplete subchain
2010-12-16
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/27504/1/MPRA_paper_27504.pdf
Kukushkin, Nikolai S. (2010): On the existence of most-preferred alternatives in complete lattices.
en
oai:mpra.ub.uni-muenchen.de:28909
2019-09-30T17:13:40Z
7374617475733D696E7072657373
7375626A656374733D44:4431:443131
7375626A656374733D48:4833:483330
7375626A656374733D48:4832:483234
7375626A656374733D4A:4A32:4A3234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28909/
Endogenous Selection of Comparison Groups, Human Capital Formation, and Tax Policy
Stark, Oded
Hyll, Walter
D11 - Consumer Economics: Theory
H30 - General
H24 - Personal Income and Other Nonbusiness Taxes and Subsidies
J24 - Human Capital ; Skills ; Occupational Choice ; Labor Productivity
This paper considers a setting in which the acquisition of human capital entails a change of location in social space that causes individuals to revise their comparison groups. Skill levels are viewed as occupational groups, and moving up the skill ladder by acquiring additional human capital, which in itself is rewarding, leads to a shift in the individual’s inclination to compare himself with a different, and on average better-paid, comparison group, which in itself is penalizing. The paper sheds new light on the dynamics of human capital formation, and suggests novel policy interventions to encourage human capital formation in the aggregate and, at the same time, reduce inter-group income inequality.
2010
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28909/1/MPRA_paper_28909.pdf
Stark, Oded and Hyll, Walter (2010): Endogenous Selection of Comparison Groups, Human Capital Formation, and Tax Policy. Forthcoming in: Economica
en
oai:mpra.ub.uni-muenchen.de:29293
2019-09-28T16:33:52Z
7374617475733D707562
7375626A656374733D44:4430
7375626A656374733D44:4431:443131
7375626A656374733D42:4232:423231
7375626A656374733D4C:4C39:4C3930
7375626A656374733D44:4436:443631
7375626A656374733D41:4131:413130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29293/
Road pricing as a citizen-candidate game
Marcucci, Edoardo
Marini, Marco
D0 - General
D11 - Consumer Economics: Theory
B21 - Microeconomics
L90 - General
D61 - Allocative Efficiency ; Cost-Benefit Analysis
A10 - General
We construct a political economy model to analyze the political acceptability of road pricing policies.
We use a citizen-candidate framework with a population composed by three groups differing for their
income level. We show that road pricing policies are never applied when there is no redistribution of the
resources in favour of other modes of transport or when the congestion of these types of transport is
relatively high. The results suggest that the efficiency of the redistribution of resources from road to the
alternative types of transport as well as the fraction of the population that uses the road transport are key
factors in explaining the adoption of road pricing schemes.
2005
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29293/1/MPRA_paper_29293.pdf
Marcucci, Edoardo and Marini, Marco (2005): Road pricing as a citizen-candidate game. Published in: European Transports No. 31 (2005): pp. 28-45.
en
oai:mpra.ub.uni-muenchen.de:29565
2019-09-30T18:06:34Z
7374617475733D756E707562
7375626A656374733D44:4432:443231
7375626A656374733D4C:4C31:4C3131
7375626A656374733D44:4431:443131
7375626A656374733D45:4533:453331
7375626A656374733D44:4434:443430
7375626A656374733D4C:4C30:4C3030
7375626A656374733D4C:4C31:4C3136
7375626A656374733D44:4430:443033
7375626A656374733D4D:4D33:4D3331
7375626A656374733D4C:4C31:4C3135
7375626A656374733D4D:4D32:4D3231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29565/
Shrinking Goods and Sticky Prices: Theory and Evidence
Snir, Avichai
Levy, Daniel
D21 - Firm Behavior: Theory
L11 - Production, Pricing, and Market Structure ; Size Distribution of Firms
D11 - Consumer Economics: Theory
E31 - Price Level ; Inflation ; Deflation
D40 - General
L00 - General
L16 - Industrial Organization and Macroeconomics: Industrial Structure and Structural Change ; Industrial Price Indices
D03 - Behavioral Microeconomics: Underlying Principles
M31 - Marketing
L15 - Information and Product Quality ; Standardization and Compatibility
M21 - Business Economics
If producers have more information than consumers about goods’ attributes, then they may use non-price (rather than price) adjustment mechanisms and, consequently, the market may reach a new equilibrium even if prices remain sticky. We study a situation where producers adjust the quantity (per package) rather than the price in response to changes in market conditions. Although consumers should be indifferent between equivalent changes in goods' prices and quantities, empirical evidence suggests that consumers often respond differently to price changes and equivalent quantity changes. We offer a possible explanation for this puzzle by constructing and empirically testing a model in which consumers incur cognitive costs when processing goods’ price and quantity information. The model is based on evidence from cognitive psychology and explains consumers’ decision whether or not to process goods’ price and quantity information. Our findings explain why producers sometimes adjust goods’ prices and sometimes goods’ quantities. In addition, they predict variability in price adjustment costs over time and across economic conditions.
2011-03-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29565/1/MPRA_paper_29565.pdf
Snir, Avichai and Levy, Daniel (2011): Shrinking Goods and Sticky Prices: Theory and Evidence.
en
oai:mpra.ub.uni-muenchen.de:30623
2019-09-27T16:39:29Z
7374617475733D696E7072657373
7375626A656374733D44:4431:443131
7375626A656374733D48:4833:483330
7375626A656374733D48:4832:483234
7375626A656374733D4A:4A32:4A3234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30623/
Endogenous selection of comparison groups, human capital formation, and tax policy
Stark, Oded
Hyll, Walter
Wang, Yong
D11 - Consumer Economics: Theory
H30 - General
H24 - Personal Income and Other Nonbusiness Taxes and Subsidies
J24 - Human Capital ; Skills ; Occupational Choice ; Labor Productivity
This paper considers a setting in which the acquisition of human capital entails a change of location in social space that causes individuals to revise their comparison groups. Skill levels are viewed as occupational groups, and moving up the skill ladder by acquiring additional human capital, which in itself is rewarding, leads to a shift in the individual’s inclination to compare himself with a different, and on average better-paid, comparison group, which in itself is penalizing. The paper sheds new light on the dynamics of human capital formation, and suggests novel policy interventions to encourage human capital formation in the aggregate and, at the same time, reduce inter-group income inequality.
2010
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30623/1/MPRA_paper_30623.pdf
Stark, Oded and Hyll, Walter and Wang, Yong (2010): Endogenous selection of comparison groups, human capital formation, and tax policy. Forthcoming in: Economica
en
oai:mpra.ub.uni-muenchen.de:32018
2019-10-04T15:25:44Z
7374617475733D707562
7375626A656374733D44:4434:443436
7375626A656374733D44:4431:443131
7375626A656374733D42:4231:423132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32018/
La influencia de las instituciones en la racionalidad del individuo a partir de Adam Smith
Calero, Analía Verónica
D46 - Value Theory
D11 - Consumer Economics: Theory
B12 - Classical (includes Adam Smith)
The Neoclassical Theory assumes that individuals are essentially selfish and maximize the utility of their income, measured on some utility scale. It defines the rationality of individuals based on preference relations, which should not change by the context.
However, it is a fact that individuals do not generally use these “market rules” with their families, friends, colleagues or in their neighborhoods. This behavior has been seen as “Bounded rationality” or “failures” in the individual’s behavior.
The main objective of this paper is to explore this kind of behavior and pose some questions about how institutions influence the preferences and decisions of individuals in some contexts. The assumption we have is: In reality, the homo economicus considers context as additional information and reacts on that basis. He adapts to the community with which he interacts as a matter of “survival”.
We conclude that there is a “Broader rationality” in that behavior, which goes beyond the one defined in the Neoclassical Theory, which is applicable in highly specific conditions.
2006-10-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32018/1/MPRA_paper_32018.pdf
Calero, Analía Verónica (2006): La influencia de las instituciones en la racionalidad del individuo a partir de Adam Smith. Published in:
es
oai:mpra.ub.uni-muenchen.de:32218
2019-10-01T09:21:07Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4436:443634
7375626A656374733D4A:4A32:4A3232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32218/
Rewarding my Self. Self Esteem, Self Determination and Motivations
Bruno, Bruna
D11 - Consumer Economics: Theory
D64 - Altruism ; Philanthropy
J22 - Time Allocation and Labor Supply
The paper presents a model where the self esteem and the self determination mechanisms are explicitly modelled in order to explain how they affect the intrinsic motivation and its impact on individual choices. The aim is to reconcile different explanations (and consequences) of the motivation crowding theory in a unique theoretical framework where the locus of control is introduced in a one period maximisation problem and the intrinsic motivation is assumed as an exogenous psychological attitude. The analysis is based on the different effect of the self esteem mechanism on intrinsic motivation input oriented or output oriented. Results show that crowding out of intrinsic motivation depends on the self determination sensitivity and the individual belief about one’s own self.
2011-07-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32218/1/MPRA_paper_32218.pdf
Bruno, Bruna (2011): Rewarding my Self. Self Esteem, Self Determination and Motivations.
en
oai:mpra.ub.uni-muenchen.de:32683
2019-09-30T10:33:49Z
7374617475733D756E707562
7375626A656374733D45:4531:453132
7375626A656374733D44:4431:443131
7375626A656374733D45:4534:453432
7375626A656374733D45:4533:453331
7375626A656374733D44:4431:443130
7375626A656374733D45:4535:453530
7375626A656374733D48:4836:483633
7375626A656374733D47:4730:473031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32683/
How to end to the debt crisis in one month
Punabantu, Siize
E12 - Keynes ; Keynesian ; Post-Keynesian
D11 - Consumer Economics: Theory
E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems
E31 - Price Level ; Inflation ; Deflation
D10 - General
E50 - General
H63 - Debt ; Debt Management ; Sovereign Debt
G01 - Financial Crises
The modern economic theory implemented today is inherently flawed. Unfortunately these flaws are not apparent in contemporary economic theory which is built on the idea that scarcity is an ever present condition; an approach referred to as scarce resource theory (SRT) in operating level economics. The consequence of this is that leaders around the world and the governments they oversee today are being misled by the very fundamental approaches in contemporary economic theory they are advised will protect their industries and citizens.
2011-08-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32683/1/MPRA_paper_32683.pdf
Punabantu, Siize (2011): How to end to the debt crisis in one month.
en
oai:mpra.ub.uni-muenchen.de:32709
2019-09-27T11:09:49Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4430:443031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32709/
Money illusion, Gorman and Lau
Colby, Scott
Tim, Graciano
Jeffrey, LaFrance
Rulon, Pope
D11 - Consumer Economics: Theory
D01 - Microeconomic Behavior: Underlying Principles
Any demand equation satisfying Lau’s (1982) Fundamental Theorem of Exact Aggregation and is 0° homogeneous in prices and income will have a Gorman (1981) functional form for each income term. This property does not depend on symmetry or adding up. The implications of this result are illustrated by an extensive example.
2011-08-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32709/1/MPRA_paper_32709.pdf
Colby, Scott and Tim, Graciano and Jeffrey, LaFrance and Rulon, Pope (2011): Money illusion, Gorman and Lau.
en
oai:mpra.ub.uni-muenchen.de:33174
2019-09-30T15:54:54Z
7374617475733D756E707562
7375626A656374733D4D:4D30
7375626A656374733D4D:4D33:4D3331
7375626A656374733D44:4431:443131
7375626A656374733D45:4533:453332
7375626A656374733D44:4431:443132
7375626A656374733D43:4335:433530
7375626A656374733D44:4434:443431
7375626A656374733D44:4434:443432
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33174/
The product life cycle of durable goods
Kaldasch, Joachim
M0 - General
M31 - Marketing
D11 - Consumer Economics: Theory
E32 - Business Fluctuations ; Cycles
D12 - Consumer Economics: Empirical Analysis
C50 - General
D41 - Perfect Competition
D42 - Monopoly
The model presented here derives the product life cycle of durable goods. It is based on the idea that the purchase process consists of first purchase and repurchase. First purchase is determined by the market penetration process (diffusion process), while repurchase is the sum of replacement and multiple purchase. The key property of durables goods is to have a mean lifetime in the order of several years. Therefore replacement purchase creates periodic variations of the unit sales (Juglar cycles) having its origin in the initial diffusion process.
The theory suggests that there exists two diffusion processes. The first can be described by Bass diffusion and is related to the information spreading process within the social network of potential consumers. The other diffusion process comes into play, when the price of the durable is such, that only those consumers with a sufficient personal income can afford the good. We have to distinguish between a monopoly market and a polypoly/oligopoly market. In the first case periodic variations of the total sales occur caused by the initial Bass diffusion, even when the price is constant. In the latter case the mutual competition between the brands leads with time to a decrease of the mean price. This change is associated with an effective increase of the market volume, which can be interpreted as a diffusion process. Based on an evolutionary approach, it can be shown that the mean price decreases exponentially and the corresponding diffusion process is governed by Gompertz equation (Gompertz diffusion).
Most remarkable is that Gibrat's rule of proportionate growth is a direct consequence of the competition between the brands. The model allows a derivation of the lognormal size distribution of product sales and the logistic replacement of durables in competition. A comparison with empirical data suggests that the theory describes the main trend of the product life cycle superimposed by short term events like the introduction of new models.
2011-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33174/1/MPRA_paper_33174.pdf
Kaldasch, Joachim (2011): The product life cycle of durable goods.
en
oai:mpra.ub.uni-muenchen.de:33370
2019-10-04T16:35:56Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4434:443431
7375626A656374733D44:4439:443931
7375626A656374733D41:4131:413130
7375626A656374733D45:4532:453237
7375626A656374733D43:4335:433530
7375626A656374733D42:4235:423532
7375626A656374733D44:4438:443833
7375626A656374733D4F:4F34
7375626A656374733D45:4533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33370/
The experience curve and the market size of competitive consumer durable markets
Kaldasch, Joachim
D11 - Consumer Economics: Theory
D41 - Perfect Competition
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
A10 - General
E27 - Forecasting and Simulation: Models and Applications
C50 - General
B52 - Institutional ; Evolutionary
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
O4 - Economic Growth and Aggregate Productivity
E3 - Prices, Business Fluctuations, and Cycles
An evolutionary model of the product life cycle is applied to derive the experience curve and the market size of (expensive) durable goods. The experience (learning) curve suggests that the real costs per unit decrease with an increasing cumulative output (Henderson's law). Based on the idea that in a competitive market firms are forced to pass cost advantages on to the price, the evolutionary model suggests that the mean price and also the mean costs are governed by an exponential decline with time. Simultaneously the mean price evolution satisfies Henderson's law. The market size is defined here by the number of active firms. The market size is shown to follow the total market revenue if the latter exhibits fast variations, else the size is nearly constant. A comparison with an empirical investigation confirms the model predictions.
2011-09-14
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33370/1/MPRA_paper_33370.pdf
Kaldasch, Joachim (2011): The experience curve and the market size of competitive consumer durable markets.
en
oai:mpra.ub.uni-muenchen.de:33730
2019-09-26T19:43:00Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4431:443131
7375626A656374733D44:4436:443633
7375626A656374733D49:4933:493332
7375626A656374733D4F:4F31:4F3132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33730/
Status, Poverty and Trade
Marjit, Sugata
Roychowdhury, Punarjit
D50 - General
D11 - Consumer Economics: Theory
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
I32 - Measurement and Analysis of Poverty
O12 - Microeconomic Analyses of Economic Development
The conflict between the income based and nutrition based estimates of poverty is a widely debated issue in economic literature. This paper, using a two commodity framework, attempts to show that in presence of inequality, a status driven utility function can reconcile the conflict between the two measures of poverty. In addition, a simple general equilibrium model using such a utility function is constructed to analyse the implications of social inequality on relative prices and the emerging pattern of trade.
2011
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33730/1/MPRA_paper_33730.pdf
Marjit, Sugata and Roychowdhury, Punarjit (2011): Status, Poverty and Trade.
en
oai:mpra.ub.uni-muenchen.de:33743
2019-09-26T09:09:36Z
7374617475733D756E707562
7375626A656374733D44:4432:443231
7375626A656374733D4C:4C31:4C3131
7375626A656374733D44:4431:443131
7375626A656374733D43:4330:433030
7375626A656374733D44:4439:443931
7375626A656374733D41:4131:413130
7375626A656374733D43:4335:433530
7375626A656374733D45:4533:453330
7375626A656374733D44:4430:443030
7375626A656374733D44:4439:443932
7375626A656374733D44:4430:443031
7375626A656374733D4F:4F31:4F3132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33743/
Evolutionary Model of Non-Durable Markets
Kaldasch, Joachim
D21 - Firm Behavior: Theory
L11 - Production, Pricing, and Market Structure ; Size Distribution of Firms
D11 - Consumer Economics: Theory
C00 - General
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
A10 - General
C50 - General
E30 - General
D00 - General
D92 - Intertemporal Firm Choice, Investment, Capacity, and Financing
D01 - Microeconomic Behavior: Underlying Principles
O12 - Microeconomic Analyses of Economic Development
Presented is an evolutionary model of consumer non-durable markets, which is an extension of a previously published paper on consumer durables. The model suggests that the repurchase process is governed by preferential growth. Applying statistical methods it can be shown that in a competitive market the mean price declines according to an exponential law towards a natural price, while the corresponding price distribution is approximately given by a Laplace distribution for independent price decisions of the manufacturers. The sales of individual brands are determined by a replicator dynamics. As a consequence the size distribution of business units is a lognormal distribution, while the growth rates are also given by a Laplace distribution. Moreover products with a higher fitness replace those with a lower fitness according to a logistic law.
Most remarkable is the prediction that the price distribution becomes unstable at market clearing, which is in striking difference to the Walrasian picture in standard microeconomics. The reason for this statement is that competition between products exists only if there is an excess supply, causing a decreasing mean price. When, for example by significant events, demand increases or is equal to supply, competition breaks down and the price exhibits a jump. When this supply shortage is accompanied with an arbitrage for traders, it may even evolve into a speculative bubble. Neglecting the impact of speculation here, the evolutionary model can be linked to a stochastic jump-diffusion model.
2011-09-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33743/1/MPRA_paper_33743.pdf
Kaldasch, Joachim (2011): Evolutionary Model of Non-Durable Markets.
en
oai:mpra.ub.uni-muenchen.de:33745
2019-09-28T04:36:50Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4436:443633
7375626A656374733D49:4933
7375626A656374733D49:4933:493332
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33745/
Conspicuous Consumption, Social Status and Measures of Poverty – An Example
Marjit, Sugata
Mandal, Biswajit
D11 - Consumer Economics: Theory
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
I3 - Welfare, Well-Being, and Poverty
I32 - Measurement and Analysis of Poverty
The existing literature on poverty has discussed about the conflict between income-based measure and nutrition-based measure. However, the role of social inequality in influencing individual’s consumption and inducing greater consumption of the so called status good has been relatively undermined. This paper attempts to show that in presence of inequality a status driven utility function reconciles the conflict between income based and nutrition based measures of poverty.
2011-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33745/1/MPRA_paper_33745.pdf
Marjit, Sugata and Mandal, Biswajit (2011): Conspicuous Consumption, Social Status and Measures of Poverty – An Example.
en
oai:mpra.ub.uni-muenchen.de:33783
2019-09-26T14:14:10Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D42:4235:423539
7375626A656374733D51:5130:513031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33783/
Non-monotonic utility functions for microeconomic analysis of sufficiency economy
Suriya, Komsan
D11 - Consumer Economics: Theory
B59 - Other
Q01 - Sustainable Development
This study invents four types of non-monotonic utility functions that suit the sufficiency economy. With these utility functions, an individual may not get higher utility when consume more goods. Therefore, an individual requires an optimal level of income rather than a maximized level of income to achieve the highest utility.
2011-08-31
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33783/1/MPRA_paper_33783.pdf
Suriya, Komsan (2011): Non-monotonic utility functions for microeconomic analysis of sufficiency economy.
en
oai:mpra.ub.uni-muenchen.de:34973
2019-09-28T16:24:28Z
7374617475733D756E707562
7375626A656374733D51:5135:513530
7375626A656374733D44:4431:443131
7375626A656374733D51:5134:513438
7375626A656374733D44:4431:443132
7375626A656374733D51:5132:513230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/34973/
Income dependent direct and indirect rebound effects from ’green’ consumption choices in Australia
Murray, Cameron K
Q50 - General
D11 - Consumer Economics: Theory
Q48 - Government Policy
D12 - Consumer Economics: Empirical Analysis
Q20 - General
Changing household behaviour is often encouraged as a means of reducing energy demand and subsequently greenhouse gas (GHG) emissions. The direct and indirect rebound effects from cost-saving ‘green’ household consumption choices were estimated using Australian data. Rebound effects from cost-saving 'green' consumption choices are modelled as income effects, allowing for variation with households income level.
Cases examined are: reduced vehicle use, reduced electricity use, the adoption of energy efficient vehicles, and the adoption of energy efficient electrical lighting.
Four econometric estimation models are utilised to estimate income effects, and the before and after expenditure patterns are matched with life-cycle assessment (LCA) estimates of the embodied GHG of each expenditure category. Direct and indirect rebound effects alone are estimated at around 10% for household electricity conservation, and for reduced vehicle fuel consumption around 20%, at the median household income level.
Direct rebound effects are larger for low-income households; however, indirect effects are larger for higher income households. The scale of the effect estimated, and the variation with household incomes, is attributed to LCA methodologies. These results should be interpreted as the minimum rebound effect, with greater rebound effects, and decreased effectiveness of household ‘green’ consumption, expected in reality.
2011-09-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/34973/3/MPRA_paper_34973.pdf
Murray, Cameron K (2011): Income dependent direct and indirect rebound effects from ’green’ consumption choices in Australia.
en
oai:mpra.ub.uni-muenchen.de:35060
2019-10-01T18:32:15Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D44:4438:443832
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/35060/
On the core and Walrasian expectations equilibrium in infinite dimensional commodity spaces
Bhowmik, Anuj
Cao, Jiling
D11 - Consumer Economics: Theory
D82 - Asymmetric and Private Information ; Mechanism Design
D51 - Exchange and Production Economies
In this paper, we establish two different characterizations of Walrasian expectations allocations by the veto power of the grand coalition in an asymmetric information economy having finitely many agents and states of nature and whose commodity space is a Banach lattice. The first one deals with Aubin non-dominated allocations, and the other claims that an allocation is a Walrasian expectations allocation if and only if it is not privately dominated by the grand coalition, by considering perturbations of the original initial endowments in precise directions.
2011-06-23
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/35060/1/MPRA_paper_35060.pdf
Bhowmik, Anuj and Cao, Jiling (2011): On the core and Walrasian expectations equilibrium in infinite dimensional commodity spaces.
en
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