This paper highlights a previously unnoticed property of commonly-used discrete choice models, which is that they feature parallel demand curves. Specifically, we show that in additive random utility models, inverse aggregate demand curves shift in parallel with respect to variety if and only if...

The purpose of this paper is to reveal the relation between the reversibility of annuities and retirees' reluctance to annuitize. To this end, we assume the existence of reversible annuities, whose surrender charge is a proportion of their purchase value. We model a retiree as a...