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...

The main research question of this paper is whether or not the risk of family disruption has an impact on the consumption/saving decisions of households. Although little empirical work exists in this area, often presenting indirect evidence, the theory is divided over the effect of family risk...

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...

This paper discusses the links between earnings, consumption and economic welfare inequality. It places emphasis on the role of leisure and labor supply in the assessment of cross-household inequality and argues that the documented increase of such inequality has its origin in the labor market....

The utility function with traditional exponential discount cannot explain individuals´ problems of inter-temporal inconsistence and self-control. Several economists have explained these problems with what is known as “present-bias”. The present-bias means that a good becomes more tempting...

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...

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...

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...

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...

This is a short survey on consumption theory. Consumption is important to both fluctuation and growth. In addition, consumption introduces some important issues involving financial markets and portfolio decisions. We will describe consumption decisions in a dynamic context. Uncertainty about...