We develop an equilibrium-econometric analysis in the context of rental housing markets with indivisibilities. The theory provides some bridge between a (competitive) market equilibrium theory and a statistical/econometric analysis. First, we develop this theory: The listing service of apartments, which we call the housing magazine, provides the information to both households (and landlords) an...

We relax the assumption of constancy of the marginal utility of income into a structural model of urban transportation with endogenous congestion. We examine the impact of unobserved heterogeneity in Marginal Utility (MU) of income on the determinants of travel by estimating the model using household survey data. We show that the value of time is no more statistically different across time slot...

This paper discusses how utility can be taught in undergraduate courses microeconomics so that to illustrate total and marginal utility, the law of diminishing consumer rationality. Diminishing is essential describing rational behavior, overconsumption, oversaturation students economics. We demonstrate a quadratic logarithmic with subsequent forms shapes utility. From what it seems there no con...

BACKGROUND: Randomized clinical trials (RCT) in critical care mostly return negative results. The research community discusses strategies to improve RCTs design. METHODS: This paper presents a theoretical framework based on marginal utility treat the problems of hypothesis generation and treatment effects valuation recently published high-quality studies as instances where such predicts irrelev...

Individual consumers often are assumed to follow certain relatively simple budgeting rules when making expenditure decisions. For example, how much to save may be decided upon almost separately from decisions on how much to spend on food, services, and other day-to-day consumables. Of course, it is well known that such "decentralized" budgeting decisions can fit well within standard consumer th...

We study the optimal regulation of a monopolist when intrinsic efficiency (intrinsic cost) and empire building tendency (marginal utility of output) are private information, but actual cost (the difference between intrinsic cost and effort level) is observable. This is a problem of multidimensional screening with complementary activities. Results are not only driven by the prior probabilities o...