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Collective Labour Supply: Heterogeneity and Non-Participation

Blundell, Richard William; Chiappori, Pierre-André; … - C.E.P.R. Discussion Papers - 2005

We present identification and estimation results for the 'collective' model of labour supply in which there are discrete choices, censoring of hours and non-participation in employment. We derive the collective restrictions on labour supply functions and contrast them with restrictions implied...

Persistent link: https://www.econbiz.de/10005504396

Competitive Risk Sharing Contracts with One-Sided Commitment

Krueger, Dirk; Uhlig, Harald - C.E.P.R. Discussion Papers - 2004

This Paper analyses dynamic equilibrium risk sharing contracts between profit-maximizing intermediaries and a large pool of ex-ante identical agents that face idiosyncratic income uncertainty that makes them heterogeneous ex-post. In any given period, after having observed their income, the...

Persistent link: https://www.econbiz.de/10005498096

Reason-Based Choice: A Bargaining Rationale for the Attraction and Compromise Effects

de Clippel, Geoffroy; Eliaz, Kfir - C.E.P.R. Discussion Papers - 2009

This paper proposes a model of boundedly rational choice that explains the well known attraction and compromise effects. Choices in our model are interpreted as a cooperative solution to a bargaining problem among an individual’s conflicting dual selves. We axiomatically characterize a unique...

Persistent link: https://www.econbiz.de/10004976794

Subprime Consumer Credit Demand: Evidence from a Lender's Pricing Experiment

Alan, Sule; Lóránth, Gyöngyi - C.E.P.R. Discussion Papers - 2012

generally do not reduce their demand for credit when subject to increases in interest rates. However, we estimate a number of … credit demand equation with the non-experimental variation in the data leads to severely biased estimates. This is true even …

Persistent link: https://www.econbiz.de/10011083560

To Charge or Not to Charge: Evidence from a Health Products Experiment in Uganda

Fischer, Greg; Karlan, Dean S.; McConnell, Margaret; … - C.E.P.R. Discussion Papers - 2014

Pricing policy for any experience good faces a key tradeoff. On one hand, a price reduction increases immediate demand … comparison effect, decrease subsequent demand. This tension is particularly important for the distribution of health products in … find an effect of free distribution on future demand. However, for products without scope for positive learning, we find …

Persistent link: https://www.econbiz.de/10011083717

The home bias of the poor: Terms of trade effects and portfolios across the wealth distribution

Broer, Tobias - C.E.P.R. Discussion Papers - 2012

This paper documents how poorer and less educated US households hold a smaller fraction of foreign assets in their financial portfolio. This average home bias of the poor is partly due to a lower probability of participating in foreign asset markets, often attributed to fixed costs of market...

Persistent link: https://www.econbiz.de/10011083824

Loss Aversion and the Asymmetric Transmission of Monetary Policy

Gaffeo, Edoardo; Petrella, Ivan; Pfajfar, Damjan; … - C.E.P.R. Discussion Papers - 2014

There is widespread evidence that monetary policy exerts asymmetric effects on output over contractions and expansions in economic activity, while price responses display no sizeable asymmetry. To rationalize these facts we develop a dynamic general equilibrium model where households’ utility...

Persistent link: https://www.econbiz.de/10011084378

The Demand for Tobacco in Post-Unification Italy

Ciccarelli, Carlo; De Fraja, Gianni - C.E.P.R. Discussion Papers - 2012

This paper studies the demand for tobacco products in post-unification Italy. We construct a very detailed panel … dataset of yearly consumption in the 69 Italian provinces from 1871 to 1913, and use it to estimate the demand for tobacco … structure of the demand for tobacco, suggesting cost driven technological change. …

Persistent link: https://www.econbiz.de/10011084528

Loss Aversion and Consumption Choice: Theory and Experimental Evidence

Karle, Heiko; Kirchsteiger, Georg; Peitz, Martin - C.E.P.R. Discussion Papers - 2012

In this paper we analyze a consumer choice model with price uncertainty, loss aversion, and expectation-based reference points. The implications of this model are tested in an experiment in which participants have to make a consumption choice between two sandwiches. We make use of the fact that...

Persistent link: https://www.econbiz.de/10011084678

Consistency in Simple vs. Complex Choices over the Life Cycle

Brocas, Isabelle; Carrillo, Juan D; Combs, T. Dalton; … - C.E.P.R. Discussion Papers - 2015

Employing a variant of GARP, we study consistency in aging by comparing the choices of younger adults (YA) and older adults (OA) in a 'simple', two-good and a `complex' three-good condition. We find that OA perform worse than YA in the complex condition but similar in the simple condition....

Persistent link: https://www.econbiz.de/10011186610