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Demand Heterogeneity in Insurance Markets : Implications for Equity and Efficiency
Geruso, Michael - 2016
data, I then show that this type of demand heterogeneity is empirically relevant in a consumer health plan setting. Younger … and older consumers and men and women reveal strikingly different demand for health insurance, conditional on their …
Persistent link: https://www.econbiz.de/10012456237
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Non-Parametric Demand Analysis with an Application to the Demand for Fish
Angrist, Joshua D. - 1995
Instrumental variables (IV) estimation of a demand equation using time series data is shown to produce a weighted … average derivative of heterogeneous potential demand functions. This result adapts recent work on the causal interpretation of … market in New York City to estimate an average elasticity of wholesale demand for fresh fish. The weighting function …
Persistent link: https://www.econbiz.de/10012473812
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Contracts with Interdependent Preferences
Ray, Debraj; Weretka, Marek - National Bureau of Economic Research - 2024
This paper studies contracting between a principal and multiple agents. The setup is classical except for the assumption that agents have interdependent preferences. We characterize cost effective contracts, and relate the direction of co-movement in rewards -- "joint liability" (positive) or...
Persistent link: https://www.econbiz.de/10014512144
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Catching Up with the Joneses : Heterogeneous Preferences and the Dynamics of Asset Prices
Chan, Yeung Lewis - 2001
We analyze a general equilibrium exchange economy with a continuum of agents who have 'catching up with the Joneses' preferences and differ only with respect to the curvature of their utility functions. While individual risk aversion does not change over time, dynamic redistribution of wealth...
Persistent link: https://www.econbiz.de/10012470109
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Consumers and Agency Problems
Prendergast, Canice J. - 2001
Consumers solve many agency problems, by pointing out when they believe that agents have made mistakes. This paper considers the role that consumers play in inducing efficient behavior by agents. I distinguish between two case: those where consumers have similar preferences to the principal, and...
Persistent link: https://www.econbiz.de/10012470274
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Demand Estimation With Heterogeneous Consumers and Unobserved Product Characteristics : A Hedonic Approach
Bajari, Patrick - 2001
We study the identification and estimation of preferences in hedonic discrete choice models of demand for …
Persistent link: https://www.econbiz.de/10012470373
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Quantifying the Benefits of New Products : The Case of the Minivan
Petrin, Amil - 2001
I develop a technique useful for obtaining more precise estimates of demand and supply curves when constrained to …
Persistent link: https://www.econbiz.de/10012470497
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Interactions-Based Models
Brock, William - 2000
This paper describes a range of methods which have been proposed to study interactions in economic and social contexts. By interactions, we refer to interdependences between individual decisions which are not mediated by markets. These types of models have been employed to understand phenomena...
Persistent link: https://www.econbiz.de/10012470930
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The Dynamics of Car Sales : A Discrete Choice Approach
Adda, Jerome - 2000
Mankiw [1982] explores the Permanent Income Hypothesis implication that durable expenditures follow an ARMA(1,1) representation. He finds that durable expenditures are represented by an AR(1) process which implies that the rate of depreciation of durables, under the PIH model, is 100%. This...
Persistent link: https://www.econbiz.de/10012470965
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Is Addiction "Rational"? Theory and Evidence
Gruber, Jonathan - 2000
A standard model of addictive process is Becker and Murphy's rational addiction' model, which has the key empirical prediction that the current consumption of addictive goods should respond to future prices, and the key normative prediction that the optimal government regulation of addictive...
Persistent link: https://www.econbiz.de/10012471269