The paper provides conditions to identify the discount factor(s) and utility function in a infinite-horizon dynamic discrete choice model variation in choice sets over time. We show that if current choices or states are informative about the choice set the agent will face in the future, then the...

I study a consumption-saving model in which consumers neglect the opportunity costs and experience a pain of paying that is decreasing and convex in the budget. The spending response to a transitory income shock can be sizable, even for liquid consumers. It is stronger for consumers with a...

When the Internet has entered into our daily life, the most dimensions of our life such as education, communication, business etc are transformed into this novel phenomenon. One of the important dimensions is to handle banking affairs through the internet. The recent studies show that banking...