us to ask whether standard classes of utility functions, such as those inspired by Kihlstrom and Mirman [15], Selden [26 …

us to ask whether standard classes of utility functions, such as those inspired by Kihlstrom and Mirman [15], Selden [26 …

integrate various strands of literature on status effects. -- inequality ; inter-temporal consumer choice ; utility ; poverty …In the presence of inequality a status-driven utility function reconciles the conflict between income-based and … nutrition-based measures of poverty. Moreover, it can explain why the poor tend to save less, an established empirical fact in …

the literature are much more complex than in the Expected Utility framework. We obtain a simple and intuitive result on …

of the marginal utility of income, whose inverse is often called the ‘Frisch parameter’, and its multi-period counterpart …, the wealth elasticity of the marginal utility of wealth, are key concepts. Three cases with additive preferences are …

We characterize optimal consumption policies in a recursive intertemporal utility framework with local substitution. We …

We establish a connection between continuous-time recursive utility and the notion of consistency studied, in … that the optimal time-consistent solution to this time-global problem is closely related to the standard recursive utility …-time recursive utility was developed for Brownain markets, and a generalization is complicated. Our approach contributes with insight …