Agents form expectations about the future in many markets, and these expectations drive investment and consumption behavior, inform entry and exit choices, and can even provide direct satisfaction or distress. How agents form expectations is therefore of central interest to economists. This...

This paper examines the effect of female human capital endowment on the groom price or dowry by using a newly available data set that was created by surveying the middle-class residents of Patna, Bihar. The estimates based on the OLS and 2SLS suggest the existence of positive association between...

This paper inserts Veblen's [Veblen, T., 1898, The Theory of the Leisure Class. The Viking Press, New York] concepts of conspicuous leisure and conspicuous consumption into a very simple model. Individuals have the choice to either invest their time into working, leading to easily observable...