We study how a household borrowing constraint the the form of a down payment requirement affects house price dynamics in an OLG model with standard preferences. We find that in certain situations the borrowing constraint shapes house price dynamics substantially. The importance of the constraint depends very much on whether house price changes are driven by interest rate or aggregate income sho...

This paper examines the Department of Energy’s (DOE) reliance on low discount rates to estimate the benefits of its energy efficiency standards and uses existing literature on implicit consumer discount rates to calculate a range of benefits for DOE’s furnace fan rule. While DOE calculates large net benefits from its energy efficiency rule, using discount rates that better represent average con...

Dental service providers in the British National Health Service (NHS) operate under a number of remuneration arrangements that give rise to different incentives. Using data derived from the Scottish dental system, we examine the relationships between remuneration, patient exemption status and treatment intensity. After controlling for differences in patient need and dentist-specific preferences...

We study portfolio allocation and characterize contracts issued by firms in the international financial market when investors exhibit ambiguity aversion and perceive ambiguity in assets issued in foreign locations. Increases in the variance of their risky production process cause firms to issue assets with a higher variable payment (equity). Hikes in investors’ perceived ambiguity have the oppo...

In two studies, time preferences for financial gains and losses at delays of up to 50 years were elicited using three different methods: matching, fixed-sequence choice titration, and a dynamic “staircase” choice method. Matching was found to create fewer demand characteristics and to produce better fits with the hyperbolic model of discounting. The choice-based measures better predicted real-w...

Nowadays market develops new means of payment to force consumers increase their spending readiness. New paying (different applications and cards) decrease ‘‘pain paying’’ readiness spending. But different are differently perceived accepted by the consumers. This research is aimed reveal some features financial behavior depending preference cash, cards applications. Our earlier proves that using...

Preliminary research indicated that an increasing number of young adults end up in debt collection. Yet, collection agencies (DCAs) are still lacking knowledge on how to approach these consumers. A large-scale mixed-methods survey consumers Germany (N = 996) was conducted investigate preference shifts from traditional digital payment, and communication channels; attitude towards financial insti...

Using a representative sample of the U.S. adult population, we analyze which payment methods consumers use to pay other (p2p) and how these choices depend on transaction demographic characteristics. We construct random matching model with diverse preferences over for p2p payments. The is calibrated share payments made cash, checks, electronic technologies from 2015 2019. find about two-thirds h...

The purpose of this note is to compute the probability of logrolling for three different probabilistic cultures. The primary finding is that the restriction of preferences to be in accord with the condition of separable preferences creates enough additional structure among voters’ preference rankings to create an increase in the likelihood that a Condorcet winner will exist with both IC and IAC...

This paper describes a method for planning with rich qualitative, temporally extended preferences (QTEPs) using lookahead heuristics inspired by those employed in state-of-the-art classical planners. Key to our approach is a transformation of the planning domain into an equivalent but simplified planning domain. First, compound preference formulae are transformed into simpler, equivalent prefer...