This paper uses data from eight different consumption questionnaires randomly assigned to 4,000 households in Tanzania to obtain evidence on the nature of measurement errors in estimates of household consumption. While there are no validation data, the design of one questionnaire and the...

The income of the self-employed is often assumed to be understated in economic statistics. Controversy exists about the best method for estimating the extent of under-reporting and about the resulting measures of the size of the underground economy. This paper refines a method developed by...

We provide necessary and sufficient conditions such that consumption and asset demands in an incomplete market setting can be rationalized by Kreps-Porteus-Selden preferences and provide a means for recovering the underlying unique representations of risk and time preferences. The incompleteness...

We propose a novel approach to model joint consumption decisions of individuals who care for each other. We assume non-cooperative interaction between the different individuals and the within-group consumption outcome critically depends on the degree of caring between the group members. By...