work of Abraham and Hunt (1, 2). PECAS combines concepts from traditional Walrasian (general equilibrium) economics with random utility theory. Random utility theory permits the representation of heterogeneous goods and actors with heterogeneous tastes in which the prices of goods vary by zone. The implementation of discrete choice theory by the use of logit equations also permits partial utili...

Using the data on maintenance expenditures and self-assessed house value, I separate measure of individual housing stock prices, use these for testing whether nondurable consumption are characterized by intratemporal nonseparability in households’ preferences. find evidence favor dependence between total housing. My findings indicate elasticity substitution is higher than intertemporal composit...

This paper revisits monetary policy in a heterogeneous agents new Keynesian (HANK) model where use adaptive learning (AL) order to form their expectations. Due the households' finite heterogeneity triggered by idiosyncratic unemployment risk, is subject micro-founded expectations that are not anchored rational expectation path. Households experience different histories which has non-trivial con...

We propose a robust method of discrete choice analysis when agents' sets are unobserved. Our core model assumes nothing about apart from their minimum size. Importantly, it leaves unrestricted the dependence, conditional on observables, between and preferences. first characterize sharp identification region model's parameters by finite set moment inequalities. then apply our theoretical finding...

Utility regulators frequently focus as much or more on the distributional impact of electric rate structures as on their efficiency. The goal of protecting low-income consumers has become more central with recent increases in wholesale power costs and anticipation of significant costs of greenhouse gas emissions in the near future. These concerns have led to the widespread use of increasing-blo...

Canonical analysis of the classical general equilibrium model demonstrates the existence of an open and dense subset of standard economies that possess fully-revealing rational expectations equilibria. This paper shows that the analogous result is not true in urban economies under reasonable modifications for this field. An open subset of economies where none of the modified rational expectatio...

We leverage the assumption that preferences are stable across contexts to partially identify and conduct inference on the parameters of a structural model of risky choice. Working with data on households’deductible choices across three lines of insurance coverage and a model that nests expected utility theory plus a range of non-expected utility models, we perform a revealed preference analysis...

This paper evaluates how households consider environmental attributes alongside other housing in their residential location decisions along the coastline Victoria Island, Nigeria. The data were obtained from tenants’ revealed preference surveys where 204 respondents rated 15 identified and most common key factors order by which they influence choices. factor analytical approach was then applied...

An electricity demand reduction project based on comprehensive residential consumer engagement was established within an Australian community in 2008. By 2011, both the peak demand and grid supplied electricity consumption had decreased to below pre-intervention levels. This case study research explored the relationship developed between the utility, community and individual consumer from the r...