This study explores how people learn and adapt their risk preferences using different elicitation methods, challenging the neoclassical theory that suggests preferences are fixed. Instead, we show that preferences can change. However, we aim to explain whether the observed changes are due to a...

In this paper, we apply the idea of $k$-local contraction of \cite{zec, zet} to study discounted stochastic dynamic programming models with unbounded returns. Our main results concern the existence of a unique solution to the Bellman equation and are applied to the theory of stochastic optimal...

We report the results of surveys we conducted in the US and Israel in 2020, a time when many prices increased following the spread of the COVID-19 pandemic. To assess respondents’ fairness perceptions of price increases, we focus on goods whose prices have increased during the pandemic,...

We analyze growth dynamics in an economy where a private good can be consumed as a substitute for a free access environmental good. In this context we show that environmental deterioration may be an engine of economic growth. To protect themselves against environmental deterioration, economic...

The main issue of this article is to discuss the question of ‘precarity’ in the context of the theory of social quality (see Beck et al, 2001), with which to pave the way for developing further the theoretical foundation of precarity. Societal practice is the main challenge this concept...

Abstract Unconditional cash transfers are the key social protection strategy in low- and middle-income countries. However, the amount of unconditional cash transfers is too small to pull the poor out of poverty cycle, yet if they positively affect their aspirations – desire to achieve...

We reexamine the analysis of Chambers (Social Choice and Welfare, 2009), that produces a characterization of a family of social welfare functions in the context of intergenerational equity: namely, those that coincide with either the sup, inf, lim sup, or lim inf rule. Reinforcement, ordinal...

This paper studies the Pareto-optimality of the consensual optimum established in "Allais-anonymity as an alternative to the discounted-sum criterion I: consensual optimality" (Mabrouk 2006a). For that, a Pareto-optimality criterion is set up by the application of the generalized Karush, Kuhn...

This paper investigates household decisions, and optimal taxation in an overlapping generations model in which individual utility depends on a weighted average of consumption of ones peers --- a ``keeping up with the Joneses'' consumption externality. In contrast to representative agent...

We propose a sectoral-shift theory of aggregate factor productivity for a class of economies with AK technologies, limited loan enforcement, a constant production possibilities frontier, and finitely many sectors producing the same good. Both the growth rate and total factor productivity in...