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(1988). The risk averse agent's savings play the role of a collateral, thereby improving consumption smoothing. Furthermore … savings and debt substitutable. If these assumptions are relaxed, consumption smoothing worsens but is still better than what …This paper studies the effect of combining different insurance schemes on the efficiency of consumption smoothing in an …
Persistent link: https://www.econbiz.de/10005100656
Persistent link: https://www.econbiz.de/10010192723
Since the 17th century, the question of the economic valuation of time (in particular the working time) has been at the center of debates among economists, from classicists to neoclassicists, Marxists to contemporary schools of thought. Today, with the advent of the digital age, characterized by...
Persistent link: https://www.econbiz.de/10015214060
This paper aims at analyzing fuel consumption in households of forest zones, and showed fuelwood’s place as energy … and fuelwood consumption. …
Persistent link: https://www.econbiz.de/10015216795
Happiness is a universal state of mind. However, its meaning takes on culture-specific forms, ranging from emotional states of mind to life satisfaction. The definition of 'happiness' is strongly influenced by the respective philosophical background and material living conditions and is shaped...
Persistent link: https://www.econbiz.de/10015045925
ABSTRACT & RÉSUMÉ : Happiness is a universal state of mind. However, its meaning takes on culture-specific forms, ranging from emotional states of mind to life satisfaction. The definition of 'happiness' is strongly influenced by the respective philosophical background and material living...
Persistent link: https://www.econbiz.de/10015267824
This paper focuses on the effects of oil subsidies removal on households’ welfare in Senegal. The methodology is based on the estimations of gas and electricity demand functions using data from the Poverty Follow-up Survey. The results suggest a gas subsidies removal in the whole country even...
Persistent link: https://www.econbiz.de/10015241830
engage in conspicuous consumption in order to signal their relative wealth. Consequently, the model shows a positive … correlation between disposable income and consumption of the positional good . As a corollary, families who receive large …
Persistent link: https://www.econbiz.de/10015243359
We reformulate Grandmont's and its successors' notion of behavioral heterogeneity such as to get the exact insensitivity of the aggregate budget share function with respect to changes in prices and income, instead of a mere approximate insensitivity. We propose a non parametric set-up such that,...
Persistent link: https://www.econbiz.de/10005422866
In this paper, we present an economic model of moral motivation. Consumers prefer regarding themselves as socially responsible individuals. Voluntary contributions to public goods are motivated by this preference. The self-image as socially responsible is determined by a comparison of one's...
Persistent link: https://www.econbiz.de/10004980679