Search Results - subject:"dynamic consumption"

Risk Aversion and Expected Utility of Consumption over Time

Johansson-Stenman, Olof - Nationalekonomiska institutionen, Handelshögskolan - 2009

The calibration theorem by Rabin (2000) implies that seemingly plausible smallstake choices under risk imply implausible large-stake risk aversion. This theorem is derived based on the expected utility of wealth model. However, Cox and Sadiraj (2006) show that such implications do not follow...

Persistent link: https://www.econbiz.de/10005207242

A Note on the Risk Behavior and Death of Homo Economicus

Johansson-Stenman, Olof - Nationalekonomiska institutionen, Handelshögskolan - 2006

conventional dynamic consumption theory under risk, where people are time consistent and integrate all sources of income perfectly …

Persistent link: https://www.econbiz.de/10005651783

Dynamic Consumption Behavior: Evidence from Japanese Household Panel Data (Revised version)

Kitamura, Yukinobu - Institute of Economic Research, Hitotsubashi University - 2006

work of Robert Hall (1978) and a series of papers by Fumio Hayashi, the focus of the literature has been on dynamic … consumption behavior. Using the Family Income and Expenditure Survey (FIES), we conducted a dynamic panel analysis of consumption … Hi-Stat Discussion Paper Series No.184 Dynamic Consumption Behavior: Evidence from Japanese …

Persistent link: https://www.econbiz.de/10005675524