The dominant practice in economics is to choose the mathematical specification of model relations on the basis of convenience, without much theoretical support. This paper discusses how quantitative model specifications can, in some cases, be given a more formal scientific underpinning in the...

Mandelbrot (Int Econ Rev 1:79–106, <CitationRef CitationID="CR18">1960</CitationRef>) proposed using the so-called Pareto–Lévy class of distributions as a framework for representing income distributions. We argue in this article that the Pareto–Lévy distribution is an interesting candidate for representing income distributions...</citationref>

The paper proposes a particular approach to model the utility of income. We develop a theoretical framework that restricts the class of admissible functional forms and distributions of the random components of the model. The theoretical approach is based on theories of probabilistic choice and...

The dominant practice in economics is to choose the mathematical specification of model relations on the basis of convenience, without much theoretical support. This paper discusses how quantitative model specifications can, in some cases, be given a more formal scientific underpinning in the...

This paper proposes a particular axiomatic approach to motivate the choice of functional forms and distribution of unobservables in continuous time models for discrete panel data analysis. We discuss in particular applications with data on transitions between employment and unemployment. This...

In this paper we propose a particular approach to measuring utility of income. To this end we develop a theoretical framework that restricts the class of admissible functional forms and distributions of the random components of the model. The theoretical approach is based on ideas and principles...

The paper proposes a particular approach to model the utility of income. We develop a theoretical framework that restricts the class of admissible functional forms and distributions of the random components of the model. The theoretical approach is based on theories of probabilistic choice and...

In this paper we propose a particular approach to measuring utility of income. To this end we develop a theoretical framework that restricts the class of admissible functional forms and distributions of the random components of the model. The theoretical approach is based on ideas and principles...