The individual welfare function of income

Income Mobility and Welfare∗

This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable consumption-saving model...

Income Risk, Income Mobility and Welfare

Income Risk, Income Mobility and Welfare This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We...

Choice and individual welfare

We propose an abstract method of systematically assigning a “rational” preference to non-rationalizable choice data. We define an individual welfare functional as a mapping from stochastic choice functions into weak orders. A stochastic choice function (or choice distribution) gives the empirical frequency of choices for any possible opportunity set (framing factors may also be incorporated int...

Hicksian Surplus Measures of Individual Welfare Change When There is Price and Income Uncertainty

the effects of cooperative versus individual directed reading thinking activities on students inferential and referential questions

two groups of students were assigned as experimental and control ones, and were given instruction on directed reading-thinking activities and after some treatment, they were post-tested. although the initial pre-test did not show any significant differences, the final post-test result revealed that the cooperative reading comprehension helped the experimental group. the cooperative students’...