کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
972376 | 932572 | 2006 | 35 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Utility of income as a random function: Behavioral characterization and empirical evidence
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
The paper proposes a particular approach to model the utility of income. We develop a theoretical framework that restricts the class of admissible functional forms and distributions of the random components of the model. The theoretical approach is based on theories of probabilistic choice and ideas that are used in modern psychophysical research. From our theoretical framework, we obtain the empirical model and the corresponding likelihood function. The empirical analysis is based on a “Stated Preference” survey. The model fits the data quite well. Finally, we discuss the concept of cardinality and the implications for consumer demand relations.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Mathematical Social Sciences - Volume 51, Issue 1, January 2006, Pages 23-57
Journal: Mathematical Social Sciences - Volume 51, Issue 1, January 2006, Pages 23-57
نویسندگان
John K. Dagsvik, Steinar Strøm, Zhiyang Jia,