Search Results - subject:"Slutsky"

Optimal consumption for recursive preferences with local substitution under risk

Li, Hanwu; Riedel, Frank - 2024

We explore intertemporal preferences that are recursive and account for local intertemporal substitution. First, we establish a rigorous foundation for these preferences and analyze their properties. Next, we examine the associated optimal consumption problem, proving the existence and...

Persistent link: https://www.econbiz.de/10015066357

Boundedly rational demand

Kocourek, Pavel; Steiner, Jakub; Stewart, Colin - In: Theoretical economics : TE ; an open access journal in … 19 (2024) 4, pp. 1415-1442

Evidence suggests that consumers do not perfectly optimize, contrary to a critical assumption of classical consumer theory. We propose a model in which consumer types can vary in both their preferences and their choice behavior. Given data on demand and the distribution of prices, we identify...

Persistent link: https://www.econbiz.de/10015135346

Revealed statistical consumer theory

Allen, Roy E.; Dziewulski, Paweł; Rehbeck, John - In: Economic theory 77 (2024) 3, pp. 823-847

Persistent link: https://www.econbiz.de/10014552973

Estimating sentiment and risk in a consumption model : a factor analysis approach

Bouaddi, Mohammed; Kakeu, Johnson - In: Macroeconomic dynamics 28 (2024) 1, pp. 249-275

Persistent link: https://www.econbiz.de/10014465391

Slutsky matrix symmetry : a new behavioral condition

Aguiar, Victor H.; Serrano, Roberto - 2022

The Slutsky matrix function encodes all the information about local variations in demand with respect to small (Slutsky …) compensated price changes. When the demand function is the result of utility maximization the Slutsky matrix is symmetric. However …, symmetry does not imply rationality. Here, we provide a necessary and sufficient condition for Slutsky symmetry. The new …

Persistent link: https://www.econbiz.de/10013370941

Understanding Household Consumption and Environmental Quality in China : A Study of Industrial Waste and Dust Emissions Using Engel Curves

Silva, Peri Agostinho da; Shen, Leilei; Li, Ailun - 2023

Manufacturing activities are associated with environmental issues, including industrial waste and dust. Recent comprehensive policies in China have effectively reduced the emissions of some atmospheric pollutants, such as SO2, NOx, CO, PM10, and VOC.However, this does not apply to industrial...

Persistent link: https://www.econbiz.de/10014347145

Optimal consumption and portfolio choice in the presence of risky house prices

Bilsen, Servaas van; Boelaars, Ilja - 2023

Persistent link: https://www.econbiz.de/10014458735

Identification and estimation of quadratic food Engel curves : evidence from Cameroon

Wirba, Ebenezer Lemven - 2023

Persistent link: https://www.econbiz.de/10014250527

Flexible estimation of random coefficient logit models of differentiated product demand

Kandelhardt, Johannes - 2023

The Berry, Levinsohn, and Pakes (1995, BLP) model is widely used to obtain parameter estimates of market forces in differentiated product markets. The results are often used as an input to evaluate economic activity in a structural model of demand and supply. Precise estimation of parameter...

Persistent link: https://www.econbiz.de/10014277015

Computing and comparing measures of rationality

Mononen, Lasse - 2023

The rationality of choices is one of the most fundamental assumptions of traditional economic analysis. Yet, substantial evidence has documented that choices often cannot be rationalized by utility maximization. Several measures of rationality have been introduced in the literature to quantify...

Persistent link: https://www.econbiz.de/10014283287