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Income, Saving, and the Theory of Consumer Behavior
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The article was published on 1949-01-01 and is currently open access. It has received 2738 citations till now. The article focuses on the topics: Permanent income hypothesis & Marginal propensity to save.read more
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Rational Choice and Erratic Behaviour
Jess Benhabib,Richard H. Day +1 more
TL;DR: In this article, it was shown that rational choice in a stationary environment can lead to erratic behavior when preferences depend on experience, i.e., choice sequences that do not converge to a long-run stationary value or to any periodic pattern.
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On the fairness of pricing — An empirical survey among the general population
TL;DR: In this article, a random survey reveals that a rise in price to cope with a situation of excess demand is considered unfair by 80% of the respondents and that traditional and administrative procedures are much preferred to pricing, and that an enlarged opportunity set leads to an even more negative evaluation of pricing.
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“Last-Place Aversion”: Evidence and Redistributive Implications
TL;DR: This article showed that participants randomly placed in second-to-last place are more likely to give money to the person ranked one rank above them instead of the person one rank below, suggesting that low-income individuals might oppose redistribution because it could differentially help the group just beneath them.
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'It Wasn't Me, It Was Them!' Social Influence in Risky Behavior by Adolescents
TL;DR: This work uses detailed panel data from the Add Health survey to examine risky behavior by American adolescents and finds that, even controlling for school fixed effects, these behaviors are correlated with lagged peer group behavior.
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What makes a ‘happy city’?
TL;DR: In this paper, an overview of studies in this field and highlights the key issues and debates pertaining to measuring, analysing and theorising quality of life and happiness in cities and regions.