Analysis of a broad survey of Japanese adults confirms that time discounting relates to body weight, not only via impatience, but also via hyperbolic discounting, proxied by inclination toward procrastination, and the sign effect, where future negative payoffs are discounted at a lower rate than...

In view of the finding that debtors are likely to be more obese than nondebtors, we investigate whether interpersonal differences in body mass are, as in the case of debt behavior, related to those in time discounting and time discounting anomalies. The effects of time discounting on body mass...

We examine stability of competitive equilibrium in an N-country world economy with capital accumulation, where each country can have either increasing marginal impatience (IMI) or decreasing marginal impatience (DMI). The necessary and sufficient condition for stability is shown as positive...

By using a two-country model with habit-forming consumers, this paper shows that the transfer paradox can take place in the free-trade, dynamically-stable world economy. When the debtor is more habituated to consumption than the creditor, an income transfer from the creditor to the debtor raises...

In a two-country model with habit formation, we focus on interdependent macroeconomic adjustments to global and country-specific income shocks. Global habits and habit differentials play key roles in the global equilibrium dynamics, possibly nonmonotonic, and in the determination of...

This research is the first to examine dynamic general equilibrium in a growing two-country economy under decreasing marginal impatience (DMI). The stability condition is shown to be more restrictive than in the case of an endowment economy and/or under increasing marginal impatience (IMI). By...

We propose a model of parental altruism in relation with child habit formation, where children are unaware of their developing habits while young, and become cognizant of them only on growing up. We show that an altruistic mother (i) maintains the amount of income transferred to her child lower...

I develop a dynamic theory of luxury consumption, particularly emphasizing the causal effect that pursuit of luxury goods has on wealth accumulation. A quasi-luxury is defined as a good whose marginal rate of substitution is increasing in a utility index. Under certain conditions, it is indeed a...