We axiomatically characterize a theory of status quo-dependent choice where an agent faces switching costs that depend upon both the status quo and the alternative he switches to. In a choice problem with a status quo, the ...

Statüko, bir kişinin şu anki konumunu temsil eder. Çalışılan iş ve yaşanılan şehir statüko için verilebilecek örnekler arasındadır. Bir statüko, kendi seçilmese bile, diğer alternatifler arasındaki göreceli sıralamayı ...

Numerous studies and experiments suggest that aspirations for desired but perhaps unavailable alternatives influence decisions. A common finding is that an unavailable aspiration steers agents to choose similar available ...

This paper explores the estimation of a class of life‐cycle discrete choice dynastic models. It provides a new representation of the value function for these class of models. It compare a multistage conditional choice ...

This article analyzes the mechanisms through which parents’ and children’s education are linked. It estimates the causal effect of parental education, parental time with children, and parental income during early childhood ...

This study analyzes a damaged-goods market for a perfectly durable good in an infinite-horizon, discrete-time game. We characterize Markov perfect equilibria of this game under different buyer upgrade possibilities as a ...