To see the other types of publications on this topic, follow the link: Intertemporal models of household choices.
Journal articles on the topic 'Intertemporal models of household choices'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Intertemporal models of household choices.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Weber, Michael, Francesco D’Acunto, Yuriy Gorodnichenko, and Olivier Coibion. "The Subjective Inflation Expectations of Households and Firms: Measurement, Determinants, and Implications." Journal of Economic Perspectives 36, no. 3 (August 1, 2022): 157–84. http://dx.doi.org/10.1257/jep.36.3.157.
Full textAbstract:
Households’ and firms’ subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households’ and firms’ economic choices in the data and help us make sense of the observed heterogeneous reactions to business-cycle shocks and policy interventions. We conclude by highlighting the relevant open questions and why tackling them is important for academic research and policymaking.
2
Khalid, Mahmood, Wasim Shahid Malik, and Abdul Sattar. "The Fiscal Reaction Function and the Transmission Mechanism for Pakistan." Pakistan Development Review 46, no. 4II (December 1, 2007): 435–47. http://dx.doi.org/10.30541/v46i4iipp.435-447.
Full textAbstract:
Modern macroeconomics literature emphasises both the short run and long run objectives of fiscal policy [Romer (2006)]. In the short run it can be used to counter output cyclicality and/or stabilise volatility in macro variables, which is descriptively same as of effects of the short run monetary policy. Further for the long-run, fiscal policy can also affect both the demand and supply side of the economy. But in most traditional analyses it is assumed that fiscal policy would adjust to ensure the intertemporal budget constraint to be satisfied, while monetary policy is free to adjust its instruments [‘Ricardian Regime’ by Sargent (1982)] such as stock of money supply or the nominal interest rate [Walsh (2003)]. The debt financing methods, expenditure and tax powers of fiscal authorities i.e. the fiscal policy has also been seen as to affect both the supply and demand side of the economy. As noted by Baxter and King (1993), the initial Real Business Cycle models had only the supply side effects of the fiscal policy, where these were transmitted through the wealth effect and labourleisure choices of the household. Recently also New-Keynesian type models with micro-foundations and sticky prices argue that still through the supply side fiscal policy management could be accorded for stabilisation [Linnemann and Schabert (2003)]. The demand side effects of the fiscal policy could also be found only with more imperfections such as ‘Rule of Thumb’ consumers or those with liquidity constraints, which lead to exclusion of Ricardian equivalence [Gali, et al. (2005)]. But all that depends on the structure of the economy, as Blanchard and Perotti (2002) stated:
3
Chiappori, Pierre-Andre, and Maurizio Mazzocco. "Static and Intertemporal Household Decisions." Journal of Economic Literature 55, no. 3 (September 1, 2017): 985–1045. http://dx.doi.org/10.1257/jel.20150715.
Full textAbstract:
We discuss the most popular static and dynamic models of household behavior. Our main objective is to explain which aspects of household decisions different models can account for. Using this insight, we describe testable implications, identification results, and estimation findings obtained in the literature. Particular attention is given to the ability of different models to answer various types of policy questions. (JEL D11, D13, D15, I38)
4
Chen, M. Keith. "The Effect of Language on Economic Behavior: Evidence from Savings Rates, Health Behaviors, and Retirement Assets." American Economic Review 103, no. 2 (April 1, 2013): 690–731. http://dx.doi.org/10.1257/aer.103.2.690.
Full textAbstract:
Languages differ widely in the ways they encode time. I test the hypothesis that the languages that grammatically associate the future and the present, foster future-oriented behavior. This prediction arises naturally when well-documented effects of language structure are merged with models of intertemporal choice. Empirically, I find that speakers of such languages: save more, retire with more wealth, smoke less, practice safer sex, and are less obese. This holds both across countries and within countries when comparing demographically similar native households. The evidence does not support the most obvious forms of common causation. I discuss implications for theories of intertemporal choice. (JEL D14, D83, E21, I12, J26, Z13)
5
Lu, Wei, Yuwei Zhou, Li Sunny Pan, and Yuhao Zhao. "Hungry people cannot take care of their future: impact of hunger on intertemporal choice." Journal of Contemporary Marketing Science 2, no. 3 (December 17, 2019): 233–45. http://dx.doi.org/10.1108/jcmars-02-2019-0014.
Full textAbstract:
Purpose People often need to make intertemporal choices in their daily life, such as savings and spending, but their decisions are not always entirely rational. The purpose of this paper is to study the effect of hunger on intertemporal choices and the moderating effect of sensitivity to reward. Design/methodology/approach Two studies verified these two hypotheses. The first study confirmed the existence of the main effect by manipulating food aroma. In the second study, by manipulating hunger with images, the authors increased external validity of the study and confirmed the regulation of the sensitivity of rewards. Findings The authors found that hungry people prefer to reap the benefits as early as possible in an intertemporal choice; this effect is significant only for those people who are sensitive to reward. Practical implications The research contributes to understand more about which factors will influence Chinese residents’ decisions on savings and spending. It also has practical implication for government policy, for example, proposing new ideas for reducing household savings rate and stimulating consumption. Originality/value The results confirmed that hunger significantly affects consumers’ intertemporal choices, which broadened the scope of researches on the factors that influence intertemporal choice, and advanced the study on the influence of individual’s physiological state on intertemporal choices. This study filled the gaps in previous researches, and opened up new research ideas for interdisciplinary study.
6
Mazzocco, Maurizio, Claudia Ruiz, and Shintaro Yamaguchi. "Labor Supply and Household Dynamics." American Economic Review 104, no. 5 (May 1, 2014): 354–59. http://dx.doi.org/10.1257/aer.104.5.354.
Full textAbstract:
Using the Panel Study of Income Dynamics, we provide evidence that to understand household decisions and evaluate policies designed to affect individual welfare, it is important to add an intertemporal dimension to the by-now standard static collective models of the household. Specifically, we document that the observed differences in labor supply by gender and marital status do not arise suddenly at the time of marriage, but rather emerge gradually over time. We then propose an intertemporal collective model that has the potential of explaining the observed patterns.
7
Voena, Alessandra. "Yours, Mine, and Ours: Do Divorce Laws Affect the Intertemporal Behavior of Married Couples?" American Economic Review 105, no. 8 (August 1, 2015): 2295–332. http://dx.doi.org/10.1257/aer.20120234.
Full textAbstract:
This paper examines how divorce laws affect couples' intertemporal choices and well-being. Exploiting panel variation in US laws, I estimate the parameters of a model of household decision-making. Household survey data indicate that the introduction of unilateral divorce in states that imposed an equal division of property is associated with higher household savings and lower female employment, implying a distortion in household assets accumulation and a transfer toward wives whose share in household resources is smaller than the one of their husband. When spouses share consumption equally, separate property or prenuptial agreements can reduce distortions and increase equity. (JEL D13, D14, D91, J12, J16, K36)
8
Christelis, Dimitris, Dimitris Georgarakos, Tullio Jappelli, Luigi Pistaferri, and Maarten van Rooij. "Asymmetric Consumption Effects of Transitory Income Shocks*." Economic Journal 129, no. 622 (May 17, 2019): 2322–41. http://dx.doi.org/10.1093/ej/uez013.
Full textAbstract:
Abstract We use the responses of a representative sample of Dutch households to survey questions that ask how much their consumption would change in response to unexpected, transitory income shocks (positive or negative). The questionnaire also distinguishes between relatively small income changes (a one-month increase or drop in income), and relatively larger ones (equal to three-months' income). The results are broadly in line with models of intertemporal choice with precautionary saving, borrowing constraints and finite horizons.
9
Imas, Alex, Michael A. Kuhn, and Vera Mironova. "Waiting to Choose: The Role of Deliberation in Intertemporal Choice." American Economic Journal: Microeconomics 14, no. 3 (August 1, 2022): 414–40. http://dx.doi.org/10.1257/mic.20180233.
Full textAbstract:
We study the impact of deliberation on intertemporal choices. Using multiple experiments, including a field study in the Democratic Republic of the Congo, we show that the introduction of waiting periods—a policy that temporally separates information about choices from choices themselves—causes substantially less myopic decisions. These results cannot be captured by models of exponential discounting nor present bias. Comparing the effects of waiting periods to making planned choices over future time periods, the former has a larger impact on reducing myopia. Our results highlight the role of deliberation in decision-making and have implications for policy and intervention design. (JEL C93, D12, D83, D91, O12)
10
Foerde, Karin, Bernd Figner, Bradley B. Doll, Isabel C. Woyke, Erin Kendall Braun, Elke U. Weber, and Daphna Shohamy. "Dopamine Modulation of Intertemporal Decision-making: Evidence from Parkinson Disease." Journal of Cognitive Neuroscience 28, no. 5 (May 2016): 657–67. http://dx.doi.org/10.1162/jocn_a_00929.
Full textAbstract:
Choosing between smaller prompt rewards and larger later rewards is a common choice problem, and studies widely agree that frontostriatal circuits heavily innervated by dopamine are centrally involved. Understanding how dopamine modulates intertemporal choice has important implications for neurobiological models and for understanding the mechanisms underlying maladaptive decision-making. However, the specific role of dopamine in intertemporal decisions is not well understood. Dopamine may play a role in multiple aspects of intertemporal choices—the valuation of choice outcomes and sensitivity to reward delays. To assess the role of dopamine in intertemporal decisions, we tested Parkinson disease patients who suffer from dopamine depletion in the striatum, in either high (on medication, PDON) or low (off medication, PDOFF) dopaminergic states. Compared with both PDOFF and healthy controls, PDON made more farsighted choices and reduced their valuations less as a function of increasing time to reward. Furthermore, reduced discounting in the high dopaminergic state was robust across multiple measures, providing new evidence for dopamine's role in making decisions about the future.
11
Kuhn, Michael A., Peter Kuhn, and Marie Claire Villeval. "Decision-environment effects on intertemporal financial choices: How relevant are resource-depletion models?" Journal of Economic Behavior & Organization 137 (May 2017): 72–89. http://dx.doi.org/10.1016/j.jebo.2017.02.014.
Full text
12
Cruz Rambaud, Salvador, and Ana María Sánchez Pérez. "Discounted and Expected Utility from the Probability and Time Trade-Off Model." Mathematics 8, no. 4 (April 15, 2020): 601. http://dx.doi.org/10.3390/math8040601.
Full textAbstract:
This paper shows the interaction between probabilistic and delayed rewards. In decision- making processes, the Expected Utility (EU) model has been employed to assess risky choices whereas the Discounted Utility (DU) model has been applied to intertemporal choices. Despite both models being different, they are based on the same theoretical principle: the rewards are assessed by taking into account the sum of their utilities and some similar anomalies have been revealed in both models. The aim of this paper is to characterize and consider particular cases of the Time Trade-Off (PPT) model and show that they correspond to the EU and DU models. Additionally, we will try to build a PTT model starting from a discounted and an expected utility model able to overcome the limitations pointed out by Baucells and Heukamp.
13
Alcantud, José, and María Muñoz Torrecillas. "Intertemporal Choice of Fuzzy Soft Sets." Symmetry 10, no. 9 (September 1, 2018): 371. http://dx.doi.org/10.3390/sym10090371.
Full textAbstract:
This paper first merges two noteworthy aspects of choice. On the one hand, soft sets and fuzzy soft sets are popular models that have been largely applied to decision making problems, such as real estate valuation, medical diagnosis (glaucoma, prostate cancer, etc.), data mining, or international trade. They provide crisp or fuzzy parameterized descriptions of the universe of alternatives. On the other hand, in many decisions, costs and benefits occur at different points in time. This brings about intertemporal choices, which may involve an indefinitely large number of periods. However, the literature does not provide a model, let alone a solution, to the intertemporal problem when the alternatives are described by (fuzzy) parameterizations. In this paper, we propose a novel soft set inspired model that applies to the intertemporal framework, hence it fills an important gap in the development of fuzzy soft set theory. An algorithm allows the selection of the optimal option in intertemporal choice problems with an infinite time horizon. We illustrate its application with a numerical example involving alternative portfolios of projects that a public administration may undertake. This allows us to establish a pioneering intertemporal model of choice in the framework of extended fuzzy set theories.
14
Yoon, Haewon. "Impatience and Time Inconsistency in Discounting Models." Management Science 66, no. 12 (December 2020): 5850–60. http://dx.doi.org/10.1287/mnsc.2019.3496.
Full textAbstract:
Extant theories of intertemporal choice entangle two aspects of time preference: impatience and time inconsistency. Impatient people focus on present consumption without worrying too much about the future; they may spend freely and avoid exercise. An outsider might question their choices, but impatient people do not experience conflict over those choices. By contrast, people who are time-inconsistent intend to save and exercise, but they fail to do so when temptation is proximate. Such individuals are conflicted; their preferences today differ from their preferences tomorrow. I characterize the interaction between impatience and time inconsistency in three leading models of temporal discounting that go beyond the exponential model, which does not predict time inconsistency at any level of impatience. The quasi-hyperbolic model predicts that time inconsistency increases with patience, whereas the hyperbolic model makes the opposite prediction. The constant-sensitivity model predicts that time inconsistency peaks at a moderate level of impatience. The results of an experiment using real monetary consequences with delays of up to one year align most closely with the prediction of the constant-sensitivity model. This paper was accepted by Yuval Rottenstreich, judgment and decision making.
15
FARSI, MEHDI, MASSIMO FILIPPINI, and SHONALI PACHAURI. "Fuel choices in urban Indian households." Environment and Development Economics 12, no. 6 (December 2007): 757–74. http://dx.doi.org/10.1017/s1355770x07003932.
Full textAbstract:
ABSTRACTThis paper applies an ordered discrete choice framework to model fuel choices and patterns of cooking fuel use in urban Indian households. The choices considered are for three main cooking fuels: firewood, kerosene, and LPG (liquid petroleum gas). The models, estimated using a large microeconomic dataset, show a reasonably good performance in the prediction of households’ primary and secondary fuel choices. This suggests that ordered models can be used to analyze multiple fuel use patterns in the Indian context. The results show that lack of sufficient income is one of the main factors that retard households from using cleaner fuels, which usually also require the purchase of relatively expensive equipments. The results also indicate that households are sensitive to LPG prices. In addition to income and price, several socio-demographic factors such as education and sex of the head of the household are also found to be important in determining household fuel choice.
16
DELPRAT, G., M. L. LEROUX, and P. C. MICHAUD. "Evidence on individual preferences for longevity risk." Journal of Pension Economics and Finance 15, no. 2 (January 20, 2015): 160–79. http://dx.doi.org/10.1017/s1474747214000523.
Full textAbstract:
AbstractThe standard model of intertemporal choice assumes risk neutrality towards the length of life: under additivity of lifetime utility and expected utility assumptions, agents are not sensitive to a mean preserving spread in the length of life. Using a survey fielded in the RAND American Life Panel, this paper provides empirical evidence on possible deviation from risk neutrality with respect to longevity in the US population. The questions we ask allow to find the distribution as well as to quantify the degree of risk aversion with respect to the length of life in the population. We find evidence that roughly 75% of respondents were not neutral with respect to longevity risk. Hence, there is a little empirical support for the joint use of the expected utility and additive lifetime utility assumptions in life-cycle models. Higher income households are more likely to be risk averse towards the length of life. We do not find evidence that the degree of risk aversion varies with age or education.
17
Jiang, Cheng-Ming, Feng-Pei Hu, and Long-Fei Zhu. "Introducing upfront losses as well as gains decreases impatience in intertemporal choices with rewards." Judgment and Decision Making 9, no. 4 (July 2014): 297–302. http://dx.doi.org/10.1017/s1930297500006173.
Full textAbstract:
AbstractPeople tend to prefer smaller and sooner (SS) rewards over larger and later (LL) ones even when the latter are much larger. Previous research have identified several ways to enhance people’s patience. Adding to this literature, the current paper demonstrates that introduction of upfront losses as well as gains to both SS and LL rewards can decrease people’s impatience. This effect is incompatible with both the normative exponential and descriptive hyperbolic discounting models, which agree on the additive assumption and the independence assumption. We also exculde the integration explanation which assumes subjects integrate upfront money with final rewards and make a decision with bottom line at the end. We consider several possible explanations, including the salience hypothesis, which states that introducing upfront money makes the money dimension more salient than not and thus increases the attractiveness of LL options.
18
Bard, Erin A. "Transit and Carpool Commuting and Household Vehicle Trip Making: Panel Data Analysis." Transportation Research Record: Journal of the Transportation Research Board 1598, no. 1 (January 1997): 25–31. http://dx.doi.org/10.3141/1598-04.
Full textAbstract:
Most of the evaluation of commute trip reduction programs centers on the effect on reducing driveway trips at the work site. Little has been done to explore the effects of such programs on overall trip making. This work is meant to help understand this relationship by determining the association between transit and carpool commuting and overall household vehicle trip making. Household activity models have indicated that an individual's travel decisions influence (and are influenced by) the decisions of other household members. It is thus postulated that one household member's choice of transit or carpool for the morning trip to work will affect the mode choices of the other household members. In addition, the choice of mode to work will affect the individual's mode choices for trips other than the morning trip to work. The analysis uses the first four waves of the Puget Sound Transportation Panel survey to construct linear econometric longitudinal trip generation models (random effects models). The results of the modeling indicate that one household member's mode choice to work does affect overall household vehicle travel. Compared with driving alone to work, if one household member chooses transit to work, overall household vehicle trips are reduced (on average). Carpooling by one household member is associated with little change in overall household travel, with average daily household vehicle trips ranging between one trip fewer and one trip greater than households where each driver in the household drives to work in a separate, single-occupant vehicle. The analysis strengthens the associations to imply causal links. The model results suggest that an improved understanding of interactions among household members is necessary to define strategies in support of commute trip reduction policies to better meet air quality and congestion-management goals.
19
Qiu, Xiao Ming, and Jia Sheng Yang. "Emissions Trading System and Supporting Policies under an Emissions Reduction Framework." Advanced Materials Research 518-523 (May 2012): 4863–68. http://dx.doi.org/10.4028/www.scientific.net/amr.518-523.4863.
Full textAbstract:
This paper, through building mathematical models, makes an analysis on the emissions trading system under an abatement framework. And the authors obtained four conclusions: (1) The impact by environmental taxes on the existing firms’ choices of optimal discharging amounts is uncertain, the existing firms’ discharging amounts will be on the decrease with the increased prices of emissions permits, and paid initial emissions allowances will reduce the existing firms’ profits; (2) Under an intertemporal trading system, the existing firms’ holding the permits conforms to the principle of profit maximization; (3) Under the intertemporal trading system, the prices for emissions permits for the entrant firms are always on the rise and so are their access costs into the industries, thus frustrating local governments’ efforts in attracting investments; and (4) Emissions reduction policies are good regulatory instruments for promoting local economic welfare and realizing sustainable development. The paper also gives some suggestions for triggering and activating the emissions trading system and formulating supportive policies.
20
Blanchet, Rosanne, Olivia K. Loewen, Stephanie L. Godrich, Noreen Willows, and Paul Veugelers. "Exploring the association between food insecurity and food skills among school-aged children." Public Health Nutrition 23, no. 11 (April 2, 2020): 2000–2005. http://dx.doi.org/10.1017/s1368980019004300.
Full textAbstract:
AbstractObjective:To examine the relationship between household food insecurity (FI) and children’s involvement in family meal choices and food preparation, used as proxies for children’s food skills, and to explore gender differences within these associations.Design:Households were classified as food-secure or food-insecure using the six-item, short-form Household Food Security Survey Module. Children’s involvement in family meal choices and food preparation were treated as proxies for children’s food skills. Mixed-effects multinomial logistic regression models were used.Setting:Public schools in Nova Scotia, Canada.Participants:5244 children in the fifth grade (10–11 years old) participating in the Children’s Lifestyle and School Performance Study (CLASS).Results:Most children reported being involved in family meal choices or food preparation at least weekly (74 and 68 %). The likelihood of helping choose family meals once a week was 33 % lower among girls from food-insecure households compared to girls from food-secure households. No differences in boys’ involvement in family meal choices were observed according to household FI status. Boys from food-insecure households were 65 % more likely than boys from food-secure households to assist with food preparation/cooking four times per week. No differences in girls’ involvement in food preparation were observed according to household FI status.Conclusions:Findings support that household FI is not due to a lack of food skills but most likely due to inadequate access to resources. This supports the call for upstream policies targeting the structural issues underpinning household FI such as low income.
21
Cohen, Jonathan, Keith Marzilli Ericson, David Laibson, and John Myles White. "Measuring Time Preferences." Journal of Economic Literature 58, no. 2 (June 1, 2020): 299–347. http://dx.doi.org/10.1257/jel.20191074.
Full textAbstract:
We review research that measures time preferences—i.e., preferences over intertemporal trade—offs. We distinguish between studies using financial flows, which we call “money earlier or later” (MEL) decisions, and studies that use time-dated consumption/effort. Under different structural models, we show how to translate what MEL experiments directly measure (required rates of return for financial flows) into a discount function over utils. We summarize empirical regularities found in MEL studies and the predictive power of those studies. We explain why MEL choices are driven in part by some factors that are distinct from underlying time preferences. (JEL C61, D15)
22
Gupta, Sachin, Pradeep Chintagunta, Anil Kaul, and Dick R. Wittink. "Do Household Scanner Data Provide Representative Inferences from Brand Choices: A Comparison with Store Data." Journal of Marketing Research 33, no. 4 (November 1996): 383–98. http://dx.doi.org/10.1177/002224379603300401.
Full textAbstract:
The authors investigate whether household scanner data provide representative inferences about brand choice behavior. They show the (analytical) equivalence of the homogeneous brand choice logit and the multinomial store sales models. Then, they determine how results for the homogeneous logit model estimated with actual household data deviate from results for the multinomial model estimated with actual store data from the same community. They also perform this comparison using model specifications that provide average estimated parameters while accommodating unobserved household heterogeneity. The authors find statistical support for the hypothesis that panelist households are not representative, whether household heterogeneity is or is not accommodated. Substantively, however, the average estimated price elasticities are close for the household and store data analyzed, if the household data are selected on the basis of purchase selection. An alternative selection procedure, called household selection, which is used for the analysis of complete household purchase records, provides results that strongly differ from the purchase selection results.
23
Kimengsi, Jude, Mukong Kechia, Balgah Azibo, Jürgen Pretzsch, and Jude Kwei. "Households’ Assets Dynamics and Ecotourism Choices in the Western Highlands of Cameroon." Sustainability 11, no. 7 (March 27, 2019): 1844. http://dx.doi.org/10.3390/su11071844.
Full textAbstract:
Ecotourism is increasingly accepted as a suitable alternative for sustaining rural livelihoods. In spite of this trend, quantitative assessments of relationships between household assets and ecotourism choices, and the policy implications thereof, currently account for only a negligible number of studies in sub-Saharan Africa. This paper contributes to this evidence gap by analyzing the extent to which households’ assets drive ecotourism choices on a representative sample of 200 households in Cameroon. The Principal Component Analysis (PCA) and the Human Development Index (HDI) were used to construct indices for ecotourism choices. The ordinary least square and logit models were also employed to estimate the effect of various household assets on ecotourism choices. A high preference was observed for the production and sale of arts and crafts items and the promotion of cultural heritage sites as key ecotourism choices. More women are found to participate in conservation education, as opposed to culture-related activities such as arts and crafts. Access to education and training were inversely related to cultural festival promotion. The results suggest the need to: (i) stem the overdependence on conservation sites for wood supply to the arts and crafts sector, (ii) enforce endogenous cultural institutional regulations, including those that increase female participation in guiding future ecotourism choices. This paper contributes to ecotourism development and conservation theory, with regards to unbundling household level predictors of ecotourism choices, and has implications on the design of policies to implement environmentally less-demanding ecotourism activities.
24
Skylark, William J., Kieran T. F. Chan, George D. Farmer, Kai W. Gaskin, and Amelia R. Miller. "The delay-reward heuristic: What do people expect in intertemporal choice tasks?" Judgment and Decision Making 15, no. 5 (September 2020): 611–29. http://dx.doi.org/10.1017/s193029750000783x.
Full textAbstract:
AbstractRecent research has shown that risk and reward are positively correlated in many environments, and that people have internalized this association as a “risk-reward heuristic”: when making choices based on incomplete information, people infer probabilities from payoffs and vice-versa, and these inferences shape their decisions. We extend this work by examining people’s expectations about another fundamental trade-off — that between monetary reward and delay. In 2 experiments (total N = 670), we adapted a paradigm previously used to demonstrate the risk-reward heuristic. We presented participants with intertemporal choice tasks in which either the delayed reward or the length of the delay was obscured. Participants inferred larger rewards for longer stated delays, and longer delays for larger stated rewards; these inferences also predicted people’s willingness to take the delayed option. In exploratory analyses, we found that older participants inferred longer delays and smaller rewards than did younger ones. All of these results replicated in 2 large-scale pre-registered studies with participants from a different population (total N = 2138). Our results suggest that people expect intertemporal choice tasks to offer a trade-off between delay and reward, and differ in their expectations about this trade-off. This “delay-reward heuristic” offers a new perspective on existing models of intertemporal choice and provides new insights into unexplained and systematic individual differences in the willingness to delay gratification.
25
Bista, Raghu Bir. "Binary Choices of Households about REDD Regime in Nepalese Forest." Quantitative Economics and Management Studies 3, no. 4 (July 5, 2022): 468–80. http://dx.doi.org/10.35877/454ri.qems763.
Full textAbstract:
This study studies empirically whether REDD is a better alternative to community forest of Nepal. The data set of the study is primary nature in which the primary data sets were collected from the household survey in the Kafle community forest of Lamatar-6, Lalitpur District, Nepal. The study has employed descriptive statistics and probit models to analyze the data sets. The study found 45 percent households depend on the community forest for livelihood materials (firewood, leaf litter, grass, water), along with Service and Agriculture income sources. As a result of binary choice, the study in mixed familiarity with REDD finds only 44 percent of households expect that REDD will be a better livelihood alternative to the poor. Further, 63 percent of households expect livelihood from REDD. Large household respondents don’t believe that REDD will be a better alternative livelihood for the poor. Almost all households expect REDD for livelihood objectives. From estimation, household stakeholders who have good asset holdings (land and livestock) think that REDD will be not a better livelihood alternative to the poor. However, the household stakeholders who have literacy, different food sufficiency level, landholding (1>), different earnings per day, Rsex, per day earning, and age thinks that REDD will be a better alternative. Thus, the poor households expect a livelihood role from REDD in Nepal. Therefore, REDD should be more beneficial to the poor household stakeholders and their livelihoods.
26
Jones, Jonathan, Isabelle Thomas, and Dominique Peeters. "Forecasting jobs location choices by Discrete Choice Models: A sensitivity analysis to scale and implications for LUTI models." REGION 2, no. 1 (June 15, 2015): 67. http://dx.doi.org/10.18335/region.v2i1.63.
Full textAbstract:
This paper proposes an empirical analysis of the sensitivity of Discrete Choice Model (DCM) to the size of the spatial units used as choice set (which relates to the well-known Modifiable Areal Unit Problem). Job's location choices in Brussels (Belgium) are used as the case study. DCMs are implemented within different Land Use and Transport Interactions (LUTI) models (UrbanSim, ILUTE) to forecast jobs or household location choices. Nevertheless, no studies have assessed their sensitivity to the size of the Basic Spatial Units (BSU) in an urban context. The results show significant differences in parameter estimates between BSUs. Assuming that new jobs are distributed among the study area proportionally to the utility level predicted by the DCM for each BSU (as in a LUTI model), it is also demonstrated that the spatial distribution of these new jobs varies with the size of the BSUs. These findings mean that the scale of the BSU used in the model can influence the output of a LUTI model relying on DCM to forecast location choices of agents and, therefore, have important operational implications for land-use planning.
27
Cheng, Long, Xuewu Chen, Ming Wei, Jingxian Wu, and Xianyao Hou. "Modeling Mode Choice Behavior Incorporating Household and Individual Sociodemographics and Travel Attributes Based on Rough Sets Theory." Computational Intelligence and Neuroscience 2014 (2014): 1–9. http://dx.doi.org/10.1155/2014/560919.
Full textAbstract:
Most traditional mode choice models are based on the principle of random utility maximization derived from econometric theory. Alternatively, mode choice modeling can be regarded as a pattern recognition problem reflected from the explanatory variables of determining the choices between alternatives. The paper applies the knowledge discovery technique of rough sets theory to model travel mode choices incorporating household and individual sociodemographics and travel information, and to identify the significance of each attribute. The study uses the detailed travel diary survey data of Changxing county which contains information on both household and individual travel behaviors for model estimation and evaluation. The knowledge is presented in the form of easily understood IF-THEN statements or rules which reveal how each attribute influences mode choice behavior. These rules are then used to predict travel mode choices from information held about previously unseen individuals and the classification performance is assessed. The rough sets model shows high robustness and good predictive ability. The most significant condition attributes identified to determine travel mode choices are gender, distance, household annual income, and occupation. Comparative evaluation with the MNL model also proves that the rough sets model gives superior prediction accuracy and coverage on travel mode choice modeling.
28
Korn, Evelyn, and Matthias Wrede. "Working Mums and Informal Care Givers: The Anticipation Effect." B.E. Journal of Economic Analysis & Policy 14, no. 2 (July 16, 2013): 473–98. http://dx.doi.org/10.1515/bejeap-2012-0023.
Full textAbstract:
Abstract Fertility and the provision of long-term care are connected by an aspect that has not received attention so far: both are time consuming activities that can be produced within the household or bought at the market and are, thus, connected through the intertemporal budget constraint of the household that accounts for time and money. This paper models that link and analyzes the effect of intervention in the long-term-care market on female labor-market related decisions. It shows that women’s fertility and their labor supply when young are affected by such policies. The overall effect can be decomposed into an opportunity-cost effect and a consumption-smoothing effect that each impact fertility as well as labor supply in opposite directions. Using survey data, the paper provides some evidence that in the member states of the European Union the consumption-smoothing effect is dominant.
29
Gärling, T., T. Kalén, J. Romanus, M. Selart, and B. Vilhelmson. "Computer Simulation of Household Activity Scheduling." Environment and Planning A: Economy and Space 30, no. 4 (April 1998): 665–79. http://dx.doi.org/10.1068/a300665.
Full textAbstract:
An operational model of household activity scheduling is proposed. The model is based on a theory entailing behavioral principles of how persons acquire, represent, and use information from and about the environment. Choices of destinations and departure times are consequences of the scheduling of a set of activities to be executed in a given time cycle. Illustrative computer simulations of the operational model show realistic effects of work hours, living in or outside the center, and travel speed. Several necessary improvements of the theory and operational model are discussed, such as incorporating learning effects and choice of travel mode for home-based trip chains. Strategies outlined for empirical tests include comparisons with existing models, psychological experiments illuminating basic assumptions, and the use of geographical information systems to process travel-diary data for single cases.
30
McKinnon, Loretta, Katrina Giskes, and Gavin Turrell. "The contribution of three components of nutrition knowledge to socio-economic differences in food purchasing choices." Public Health Nutrition 17, no. 8 (August 7, 2013): 1814–24. http://dx.doi.org/10.1017/s1368980013002036.
Full textAbstract:
AbstractObjectivesTo assess socio-economic differences in three components of nutrition knowledge, i.e. knowledge of (i) the relationship between diet and disease, (ii) the nutrient content of foods and (iii) dietary guideline recommendations; furthermore, to determine if socio-economic differences in nutrition knowledge contribute to inequalities in food purchasing choices.DesignThe cross-sectional study considered household food purchasing, nutrition knowledge, socio-economic and demographic information. Household food purchasing choices were summarised by three indices, based on self-reported purchasing of sixteen groceries, nineteen fruits and twenty-one vegetables. Socio-economic position (SEP) was measured by household income and education. Associations between SEP, nutrition knowledge and food purchasing were examined using general linear models adjusted for age, gender, household type and household size.SettingBrisbane, Australia in 2000.SubjectsMain household food shoppers (n 1003, response rate 66·4 %), located in fifty small areas (Census Collectors Districts).ResultsShoppers in households of low SEP made food purchasing choices that were less consistent with dietary guideline recommendations: they were more likely to purchase grocery foods comparatively higher in salt, sugar and fat, and lower in fibre, and they purchased a narrower range of fruits and vegetables. Those of higher SEP had greater nutrition knowledge and this factor attenuated most associations between SEP and food purchasing choices. Among nutrition knowledge factors, knowledge of the relationship between diet and disease made the greatest and most consistent contribution to explaining socio-economic differences in food purchasing.ConclusionsAddressing inequalities in nutrition knowledge is likely to reduce socio-economic differences in compliance with dietary guidelines. Improving knowledge of the relationship between diet and disease appears to be a particularly relevant focus for health promotion aimed to reduce socio-economic differences in diet and related health inequalities.
31
Mohammadian, Abolfazl, and Eric J. Miller. "Empirical Investigation of Household Vehicle Type Choice Decisions." Transportation Research Record: Journal of the Transportation Research Board 1854, no. 1 (January 2003): 99–106. http://dx.doi.org/10.3141/1854-11.
Full textAbstract:
Automobile ownership models are an integral part of comprehensive transportation modeling systems. Recent work and ongoing advances in the area of activity-based travel demand modeling have recognized the need for increased experimentation with automobile choice models. On the other hand, while automobiles are very important in people's everyday lives, they also have a serious impact on the environment. This impact occurs at the micro level (pollution) as well as the macro level (emission of greenhouse gases and global warming). Such impacts have led to increased interest in reducing motor vehicle emissions. A household automobile type choice model was developed at a disaggregate level. The model can provide a direct forecast of consumer demand for personal-use vehicles given the available choices. A well-developed form of discrete choice modeling techniques, the nested logit model, was used to investigate the process of household automobile type choice decisions given that a transaction has occurred.
32
Mohammadian, Abolfazl, and Eric J. Miller. "Nested Logit Models and Artificial Neural Networks for Predicting Household Automobile Choices: Comparison of Performance." Transportation Research Record: Journal of the Transportation Research Board 1807, no. 1 (January 2002): 92–100. http://dx.doi.org/10.3141/1807-12.
Full textAbstract:
Over the past few years, machine-learning techniques have expanded enormously. These approaches are increasingly being applied to traffic and transportation problems formerly reserved for formal statistical approaches such as discrete choice models. Part of the reason for this has to do with research trends, but there are some potential advantages associated with such techniques, including the ability to model nonlinear systems; the ease with which symbolic, nominal, or categorical variables can be included; and the ability of these methods to deal with noisy data. The use of two modeling techniques, the nested logit model and the multilayer perceptron artificial neural network, was investigated in terms of their applicability to the household vehicle choice problem. Both methods generated strong results, although the multilayer perceptron artificial neural network yielded better predictive potential.
33
Zhang, Hengyang, Jason Hawkins, and Khandker Nurul Habib. "A joint model of place of residence (POR) and place of work (POW): Making use of Gibbs sampling technique to overcome arbitrary assumptions in contexts of data limitation." Journal of Transport and Land Use 12, no. 1 (December 3, 2019): 873–92. http://dx.doi.org/10.5198/jtlu.2019.1624.
Full textAbstract:
Place or residence (POR) and place of work (POW) are two spatial pivots defining patterns of travel behavior. These choices are considered part of long-term choice influencing short-term daily travel choices. Hence, POR-POW distributions are input into almost all daily travel demand models. However, in many cases, POW-POR is modelled in an ad-hoc way considering the gravity-based or entropy is maximizing aggregate modelling approach. Lack of data on the sequence of choices related to POR and POW is often blamed for avoiding using disaggregate choice model. Recognizing such data limitation, this paper presents an alternative methodology of modelling joint distribution of POW-POW that uses disaggregate choice models without necessarily knowing the sequence of POR and POW choices. It uses the conditional probability break downs of joint POR-POW choice probabilities as depicted in the Gibbs sampling approach. This allows capturing effects of household socioeconomic characteristics, zonal land-use characteristics, and modal accessibility factors in the POR-POW models. The model is applied for a case study in the city of Ottawa. Results reveal that the proposed methodology can replicate observed patterns of POR-POW with a high degree of accuracy.
34
Xu, Xiang, Hani S. Mahmassani, and Ying Chen. "Privately Owned Autonomous Vehicle Optimization Model Development and Integration with Activity-Based Modeling and Dynamic Traffic Assignment Framework." Transportation Research Record: Journal of the Transportation Research Board 2673, no. 10 (June 3, 2019): 683–95. http://dx.doi.org/10.1177/0361198119852072.
Full textAbstract:
This paper presents a first-order approach integrated with activity-based modeling and dynamic traffic assignment framework to model the impact of autonomous vehicles on household travel and activity schedules. By considering shared rides among household members, mode choices, re-planning of departure times, and the rescheduling of activity sequences, two optimization models—basic personal owned autonomous vehicle (POAV) model and enhanced POAV model—are presented. The proposed approach is tested for the different models at the household level with different household sizes. The activity schedules of each household were generated in the Chicago sub-area network. The results show that each POAV can effectively replace multiple conventional vehicles, however, using POAV will lead to more vehicle miles traveled because of detour trips. The proposed enhanced POAV model considers mode choice decision with a household-based approach instead of a trip-based approach to capture the impacts of repositioning trips on mode choice. The results show that, if the generalized travel cost of POAV remains at the same level as conventional vehicles, more passengers will choose to use transit because the repositioning trips increase the total cost.
35
Ventre, Viviana, and Roberta Martino. "Quantification of Aversion to Uncertainty in Intertemporal Choice through Subjective Perception of Time." Mathematics 10, no. 22 (November 17, 2022): 4315. http://dx.doi.org/10.3390/math10224315.
Full textAbstract:
Intertemporal choices are those decisions structured over several periods in which the effects only manifest themselves with the passage of time. The main mathematical reference for studying the behavior of individuals with respect to this type of decision is the Discounted Utility Model which hypothesizes completely rational individuals. The empirical evidence that deviates from normative expectations has motivated the formulation of alternative models with the aim of better describing the behavior of individuals. The present paper investigates the characteristics behind hyperbolic discounting starting from the phenomenon of decision inconsistency, i.e., when individuals’ preferences vary over time. The mechanisms of inconsistency will be explored through the physical concept of relative time, proving the importance of uncertainty aversion in the hyperbolic trend of the discount function. The analysis of the mathematical characteristics of hyperbolic discounting and the relationship between decision inconsistency and subjective perception of time defines the maximum distance between rational and non-rational preferences. An experimental part empirically proves the relationship between uncertainty aversion and time inconsistency. The present paper contributes to the literature by defining a new characteristic of hyperbolic discounting and quantifying the impact of the subjective perception of time in the decision-making process.
36
Andrews, Rick L., Andrew Ainslie, and Imran S. Currim. "An Empirical Comparison of Logit Choice Models with Discrete versus Continuous Representations of Heterogeneity." Journal of Marketing Research 39, no. 4 (November 2002): 479–87. http://dx.doi.org/10.1509/jmkr.39.4.479.19124.
Full textAbstract:
Currently, there is an important debate about the relative merits of models with discrete and continuous representations of consumer heterogeneity. In a recent JMR study, Andrews, Ansari, and Currim (2002 ; hereafter AAC) compared metric conjoint analysis models with discrete and continuous representations of heterogeneity and found no differences between the two models with respect to parameter recovery and prediction of ratings for holdout profiles. Models with continuous representations of heterogeneity fit the data better than models with discrete representations of heterogeneity. The goal of the current study is to compare the relative performance of logit choice models with discrete versus continuous representations of heterogeneity in terms of the accuracy of household-level parameters, fit, and forecasting accuracy. To accomplish this goal, the authors conduct an extensive simulation experiment with logit models in a scanner data context, using an experimental design based on AAC and other recent simulation studies. One of the main findings is that models with continuous and discrete representations of heterogeneity recover household-level parameter estimates and predict holdout choices about equally well except when the number of purchases per household is small, in which case the models with continuous representations perform very poorly. As in the AAC study, models with continuous representations of heterogeneity fit the data better.
37
Epple, Dennis, Michael Peress, and Holger Sieg. "Identification and Semiparametric Estimation of Equilibrium Models of Local Jurisdictions." American Economic Journal: Microeconomics 2, no. 4 (November 1, 2010): 195–220. http://dx.doi.org/10.1257/mic.2.4.195.
Full textAbstract:
We develop a new model of household sorting in a system of residential neighborhoods. We show that this model is partially identified without imposing parametric restrictions on the distribution of unobserved tastes for neighborhood quality and the shape of the indirect utility function. The proof of identification is constructive and can be used to derive a new semiparameteric estimator. Our empirical application focuses on residential choices in the Pittsburgh metropolitan area. We find that sorting of households with children exhibit more stratification by income than sorting of households without children. (JEL C51, D12, H41, J12, R21, R23)
38
Fehr, Ernst, and Lorenz Goette. "Do Workers Work More if Wages Are High? Evidence from a Randomized Field Experiment." American Economic Review 97, no. 1 (February 1, 2007): 298–317. http://dx.doi.org/10.1257/aer.97.1.298.
Full textAbstract:
Most previous studies on intertemporal labor supply found very small or insignificant substitution effects. It is possible that these results are due to constraints on workers' labor supply choices. We conducted a field experiment in a setting in which workers were free to choose hours worked and effort per hour. We document a large positive elasticity of overall labor supply and an even larger elasticity of hours, which implies that the elasticity of effort per hour is negative. We examine two candidate models to explain these findings: a modified neoclassical model with preference spillovers across periods, and a model with reference dependent, loss-averse preferences. With the help of a further experiment, we can show that only loss-averse individuals exhibit a negative effort response to the wage increase. (JEL J22, J31)
39
Demuynck, Thomas, and Christian Seel. "Revealed Preference with Limited Consideration." American Economic Journal: Microeconomics 10, no. 1 (February 1, 2018): 102–31. http://dx.doi.org/10.1257/mic.20150343.
Full textAbstract:
We derive revealed preference tests for models where individuals use consideration sets to simplify their consumption problem. Our basic test provides necessary and sufficient conditions for consistency of observed choices with the existence of consideration set restrictions. The same conditions can also be derived from a model in which the consideration set formation is endogenous and based on subjective prices. By imposing restrictions on these subjective prices, we obtain additional refined revealed preference tests. We illustrate and compare the performance of our tests by means of a dataset on household consumption choices. (JEL D11, D12, M31)
40
Kim, Changjoo, Olivier Parent, and Rainer vom Hofe. "The role of peer effects and the built environment on individual travel behavior." Environment and Planning B: Urban Analytics and City Science 45, no. 3 (November 8, 2017): 452–69. http://dx.doi.org/10.1177/2399808317740354.
Full textAbstract:
While urban planners and transportation geographers have long emphasized the importance of social influences on individual travel behavior, many challenges remain to bridge the gap between complex conceptual frameworks and operational behavioral models. Improving the ability of models to forecast activity-travel behavior can provide greater insights into urban planning issues. This paper proposes a new model framework by evaluating how individual travel behavior is influenced by inter- and intra-household interactions. The built environment, land-use mix, and social interactions influence household member choices among different transport modes. We propose a spatial multivariate Tobit specification that allows each individual to face a set of potential destinations and transport modes and takes into consideration the travel behavior of other household members and nearby neighbors. Using the Greater Cincinnati Household Travel Survey, we analyzed more than 37,000 trips made by 1968 individuals located in Hamilton County in Cincinnati, Ohio. Results reveal that social influences and the built environment have a strong impact on the willingness to walk and to cycle.
41
Liu, Xia, and Jian Lu. "Gender Differences in Travel Mode Choice Behavior in Zhenfeng City." Applied Mechanics and Materials 361-363 (August 2013): 1906–9. http://dx.doi.org/10.4028/www.scientific.net/amm.361-363.1906.
Full textAbstract:
Gender difference is an important factor in travel mode choice behavior. In this paper, some characteristics of different travelers were found from a survey of Zhenfeng City. Based on the data, this paper developed MNL models about four main travel mode choices (walk, bus, car and motorcycle) of different gender, and six variables were used in the models. Overall, the models represented the gender differences in travel mode choice, and it was influenced by a wide variety of variables, including age, employment status, household income, number of cars, number of motorcycles and travel purpose.
42
Lee, Chun-Chang, Chih-Min Liang, and Yang-Tung Liu. "A COMPARISON OF THE PREDICTIVE POWERS OF TENURE CHOICES BETWEEN PROPERTY OWNERSHIP AND RENTING." International Journal of Strategic Property Management 23, no. 2 (January 18, 2019): 130–41. http://dx.doi.org/10.3846/ijspm.2019.7064.
Full textAbstract:
This paper compares the predictive powers of hierarchical generalized linear modeling (HGLM), logistic regression, and discriminant analysis with regard to tenure choices between buying property and renting property by sampling the residents of the Greater Taipei area. The results imply that the hit rate and other indicators included in HGLM have better predictive power with regard to tenure choices than the binary logistic regression model and the discriminant analysis model. That is, using HGLM to process nested data can increase prediction accuracy regarding household tenure choices. Furthermore, cross-validation is performed to analyze hit rate stability. The hit rate sequencing from this cross-validation is found to be consistent with the HGLM results, implying that the comparison of the three models in terms of hit rate performance prediction in this study is stable and reliable.
43
Jeong, Hyeok, and Robert M. Townsend. "GROWTH AND INEQUALITY: MODEL EVALUATION BASED ON AN ESTIMATION-CALIBRATION STRATEGY." Macroeconomic Dynamics 12, S2 (September 2008): 231–84. http://dx.doi.org/10.1017/s1365100507070149.
Full textAbstract:
This paper evaluates two well-known models of growth with inequality that have explicit micro underpinnings related to household choice. With incomplete markets or transactions costs, wealth can constrain investment in business and the choice of occupation and also constrain the timing of entry into the formal financial sector. Using the Thai Socio-Economic Survey (SES), we estimate the distribution of wealth and the key parameters that best fit cross-sectional data on household choices and wealth. We then simulate the model economies for two decades at the estimated initial wealth distribution and analyze whether the model economies at those micro-fit parameter estimates can explain the observed macro and sectoral aspects of income growth and inequality change. Both models capture important features of Thai reality. Anomalies and comparisons across the two distinct models yield specific suggestions for improved research on the micro foundations of growth and inequality.
44
Belboula, Imène, Claire-Lise Ackermann, and Jean-Pierre Mathieu. "Product design and hierarchized persuasion process: An application to three household electrical products." Recherche et Applications en Marketing (English Edition) 33, no. 4 (July 19, 2018): 2–23. http://dx.doi.org/10.1177/2051570718787133.
Full textAbstract:
Product design can be considered a communication tool that results in cognitive and affective responses. This research builds on MacKenzie et al.’s advertising persuasion models to determine whether the persuasion process induced by product design operates according to a hierarchy of effects, both directly through an affect transfer process and indirectly through product cognitions. The findings provide evidence of the existence of direct and indirect routes for both functional and symbolic beliefs. They highlight the effect of stylistic choices on consumers’ affective, cognitive and behavioural responses.
45
Rhoulac, Tori D. "Bus or Car?" Transportation Research Record: Journal of the Transportation Research Board 1922, no. 1 (January 2005): 98–104. http://dx.doi.org/10.1177/0361198105192200113.
Full textAbstract:
School-related traffic congestion causes increased commuter travel times in many communities because of high volumes of passenger cars on school campuses that often queue onto adjacent streets. To change modal choices and behaviors ultimately to prompt a decrease in this recurring congestion, research was done to gain a better understanding of the student, household, and trip attributes and behaviors that influence school transportation mode choice for students living beyond walking distance of school. When home-to-school distances make nonmotorized modes infeasible, families typically must choose between the automobile and the school bus for travel to and from school. School transportation mode choice models were developed to estimate morning and afternoon modal split between these two modes for a North Carolina school district. The factors that exhibited statistical significance in estimating mode choice for kindergarten to eighth-grade students included the total number of students in those grades living in a household, student grade, household income, and subjective variables that attempted to quantity the convenience of each modal alternative and parents’ perceptions of modal safety. Two models were developed because the variables related differently to morning and afternoon school trip mode choice. In comparison with traditional mode choice models, the school transportation mode choice models developed as part of this research exhibit several similarities as well as distinct differences. Household income, for example, was found to be inversely proportional to the probability that a student will travel by automobile for morning or afternoon school trips.
46
He, He, Roberto Ponce-Lopez, Jingsi Shaw, Diem-Trinh Le, Joseph Ferreira, and P. Christopher Zegras. "Representing Accessibility: Evidence from Vehicle Ownership Choices and Property Valuations in Singapore." Transportation Research Record: Journal of the Transportation Research Board 2673, no. 2 (February 2019): 724–33. http://dx.doi.org/10.1177/0361198119825831.
Full textAbstract:
This paper compares the relative performance of different measures of accessibility in relevant models. Specifically, the authors formulated three measures of accessibility: gravity-based accessibility, an aggregate measure of potential; trip-based accessibility, a disaggregate, utility-based measure of the value of travel alternatives; and activity-based accessibility, a theoretically richer disaggregate, utility-based measure of the value of alternative activities (including travel). These accessibility measures were used as explanatory variables in household vehicle ownership models and real estate market price models, comparing the explanatory power of each accessibility measure in each model as expressed by the confidence in the coefficient estimates and captured by the models’ goodness-of-fit statistics. It was found that trip-based accessibility best represents preferences for accessibility in both vehicle ownership decisions and property valuations. This supports the theoretical value of disaggregate, utility-based accessibility measures over aggregate, potential-based measures. The fact that trip-based measures perform better than activity-based accessibility measures underscores several empirical and technical limitations. Finally, the authors noted that accurately representing accessibility preferences requires congruence between the granularity of the accessibility measure and that of the explained behavior. This emphasizes the importance of understanding what accessibility measures actually capture and ensuring that they align with the analysis purpose.
47
Kaplan, Greg, Benjamin Moll, and Giovanni L. Violante. "Monetary Policy According to HANK." American Economic Review 108, no. 3 (March 1, 2018): 697–743. http://dx.doi.org/10.1257/aer.20160042.
Full textAbstract:
We revisit the transmission mechanism from monetary policy to household consumption in a Heterogeneous Agent New Keynesian (HANK) model. The model yields empirically realistic distributions of wealth and marginal propensities to consume because of two features: uninsurable income shocks and multiple assets with different degrees of liquidity and different returns. In this environment, the indirect effects of an unexpected cut in interest rates, which operate through a general equilibrium increase in labor demand, far outweigh direct effects such as intertemporal substitution. This finding is in stark contrast to small- and medium-scale Representative Agent New Keynesian (RANK) economies, where the substitution channel drives virtually all of the transmission from interest rates to consumption. Failure of Ricardian equivalence implies that, in HANK models, the fiscal reaction to the monetary expansion is a key determinant of the overall size of the macroeconomic response. (JEL D31, E12, E21, E24, E43, E52, E62)
48
Głuszak, Michał. "Multinomial Logit Model Of Housing Demand In Poland." Real Estate Management and Valuation 23, no. 1 (March 1, 2015): 84–89. http://dx.doi.org/10.1515/remav-2015-0008.
Full textAbstract:
Abstract When compared to mature housing markets, little has been done to understand the nature of demand on emerging housing markets in Central and Eastern Europe and to develop testable models for post-socialist economies. With the exception of Bazyl 2009 and Głuszak 2010, there is hardly any econometric evidence on factors behind housing tenure choices in Poland. The article focus mainly on: permanent (and current) income, household structure, lifecycle, and differences between local market characteristics. In the research, multinomial logistic regression is used to analyze factors that increase the probability of young households becoming homeowners. The major objectives of the study are: 1) estimation of housing demand at household level, 2) discussion of factors increasing the probability of becoming homeowner, 3) discussion of advantages and limitations of using classical qualitative response models to estimate housing demand. The research is based on latest European Union Statistics on Income and Living Conditions (EUSILC) 2007-2010 dataset (panel of approx. 4,500 households).
49
Rashid, Syeda Rozana. "Bangladeshi Women’s Experiences of Their Men’s Migration." Asian Survey 53, no. 5 (September 2013): 883–908. http://dx.doi.org/10.1525/as.2013.53.5.883.
Full textAbstract:
This article examines Bangladeshi women’s experiences of their men’s migration. It focuses on the lifestyles, household responsibilities, and levels of compliance with or defiance against dominant gender ideologies concerning the everyday lives of left-behind women in two migration-intensive villages in Bangladesh. By locating the meanings and substance of women’s power and agency in the context of their living arrangement in nuclear, joint, and natal families, I argue that the choices and priorities of these women be interpreted beyond liberal feminist models of “empowerment” and “emancipation.”
50
Mazumdar, Sumit. "Assessing Vulnerability to Chronic Undernutrition among Under-Five Children in Egypt: Contextual Determinants of an Individual Consequence." International Journal of Population Research 2012 (July 1, 2012): 1–12. http://dx.doi.org/10.1155/2012/939541.
Full textAbstract:
Nutritional outcomes remain an important development indicator and reflect a household's vulnerability to improved quality of life. Drawing upon recent household survey data from Egypt, this paper applies hierarchical models to test the effect of contextual factors on chronic undernutrition among under-five children and identifies the demographic and socioeconomic characteristics that underscore such vulnerability. Results indicate considerable neighborhood effects influencing a household’s nutritional choices. However, no significant effect could be identified for mother’s education and women’s decision-making power, but a clear positive association is evident between nutritional status and better health service utilization as well as child care and feeding practices. Focused intervention strategies need to augment household level behavioral change for these identified factors and supplement such individual efforts with targeted strategies aimed at vulnerable Egyptian communities to reduce child undernutrition.