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Title:On the arbitrariness of consumption PDF Logo
Authors:Whalley, John
Zhang, Shunming
Issue Date:2009
Series/Report no.:CESifo working paper 2566
Abstract:We discuss a simple model of choices of joint consumption by a working couple who place maintenance of their marriage (relationship) above all else. Any proposal made by one partner seeking to provide maximal utility to the other so as to preserve the marriage, in the case where preferences of partners are unknown, will be accepted. In this sense consumption is arbitrary. In a concluding section we suggest that while overly simple; this structure may characterize to some degree significant amounts of observed consumption, emphasing how social arrangements and the value placed on them by individuals can impact on observed economic behaviour.
Subjects:Values
Preferences
lexicographic
relationship
partners
JEL:A10
A12
A13
C50
D01
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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