Individual Rather Than Household Euler Equations: Identification and Estimation of Individual Preferences Using Household Data

Individual Rather Than Household Euler Equations: Identification and Estimation of Individual Preferences Using Household Data∗

In this paper it is shown that the intratemporal and intertemporal preferences of each decision maker in the household can be identified even if individual consumption is not observed. This identification result is used jointly with the Consumer Expenditure Survey (CEX) to estimate the intratemporal and intertemporal features of individual preferences. This paper is one of the first attempts to...

Beware of Workaholics: Household Preferences and Individual Equilibrium Utility

Beware of Workaholics: Household Preferences and Individual Equilibrium Utility This paper analyzes the effects of sociological changes in the form of a shift of influence within two-member households participating in labor and product markets. The most striking effects occur when household members differ in individual preferences and enjoy positive leisure-dependent externalities. For instance...

Measurement of household welfare : Individual and household willingness to pay and to accept

The paper deals with the measurement of household welfare in a general and flexible framework: It defines measures of individual and household willingness to pay (and to accept) and examines their relationship. The sum of the individual welfare measures forms only an upper bound for the corresponding measure of household welfare. The bounds are tightened by introducing additional assumptions ab...

Debt and Financial Expectations: An Individual and Household Level Analysis

We explore the determinants of debt and growth in debt at the individual and household level. The focus is on the influence of expectations of individuals and households regarding their future financial situation. Our theoretical model predicts a positive association between the quantity of debt and optimism. The empirical findings provide convincing support for our theoretical priors in that o...

Evacuation Decision Making and Behavioral Responses: Individual and Household