Endogenous Growth with Intertemporally Dependent Preferences
نویسندگان
چکیده
منابع مشابه
Intertemporally Dependent Preferences and the Volatility of Consumption and Wealth
In this article we construct a model in which a consumer’s utility depends on the consumption history We describe a general equilibrium framework similar to Cox, Ingersoll, and Ross (1985a). A simple example is then solved in closedform in this general equilibrium setting to rationalize the observed stickiness of the consumption series relative to the fluctuations in stock market wealth. The sa...
متن کاملGeneralized Cost-Benefit-Analysis and Social Discounting with Intertemporally Dependent Preferences
We derive a general framework for cost-benefit analysis and social discounting in a setting with intertemporally dependent preferences. Here, the marginal contribution of an additional unit of consumption in some period depends on what is consumed in the other periods. We use a simple model of history dependent preferences to analyze how habit formation affects the social rate of discount. Gett...
متن کاملNonrenewable Resource Allocation under Intertemporally Dependent Demand
This paper investigates the implications of an intertemporally dependent demand structure in the market for an exhaustible resource. The demand structure is derived endogenously in a partial equilibrium model where price-taking users combine the resource with capital to produce final output. It is shown that, when demand for the resource is modelled explicitly as a derived demand, the common as...
متن کاملFood Safety and Intertemporally Nonseparable Preferences in U.S. Meat Consumption
A consumer lifecycle demand system is constructed to investigate the presence of ra tional habits and effects of food safety information on U.S. meat consumption. Based on previous studies, information on meat recalls and media coverage of food safety events is used to measure consumer perception of meat quality. At quarterly frequen cies, U.S. meat demand is found to be intertemporally nons...
متن کاملMarket design with endogenous preferences
This paper explores the interdependence between market structure and an important class of extra-rational cognitive biases. Starting with a familiar bilateral monopoly framework, we characterize the endogenous emergence of preference distortions during bargainging which cause negotiators to perceive their private valuations differently than they would outside the adversarial negotiation context...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Contributions in Macroeconomics
سال: 2003
ISSN: 1534-6005
DOI: 10.2202/1534-6005.1128