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This raises an interesting question. Should
lives saved in the future be discounted for
the purpose of calculating CPLS, or should
they be counted the same as those saved
tomorrow? To shed light o...
A State Preference Approach to the Precautionary Demand for Money
Money Precautionary Demand
2015/9/18
Much attention has been devoted in the
literature to the transactions demand for
money and the asset demand for money.
The precautionary motive for holding cash
balances, however, is seldom analyz...
Preference shocks from aggregation: time series data evidence
Aggregation shock time series data evidence
2015/7/21
Preference shocks from aggregation: time series data evidence.
Preference heterogeneity and optimal capital income taxation
Optimal taxation Capital taxation Saving Preference heterogeneity
2014/3/18
We examine a prominent justification for capital income taxation: goods preferred by those with high ability ought to be taxed. In an environment where commodity taxes are allowed to be nonlinea...
Asymmetries in Ordered Strength of Preference Models: Implications of Focus Shift for Discrete-Choice Preference Estimation
preference model survey design
2011/10/23
This paper explores potential focus shift asymmetries in an ordered strength of preference model applied to contingent choice data. A focus shift occurs when respondents weight factors differently whe...
The Revealed Preference Implications of Reference Dependent Preferences
Reference Dependent Preferences problems
2014/3/18
K¨oszegi and Rabin (2005) propose a theory of reference dependent utility in which the
ultimate choice also serves as the reference point. They analyze dynamic choice problems
with uncertainty and i...