Autori
Strom, Steinar
Dagsvik, John K.
Jia, Zhiyang

Titolo
A stochastic model for the utility of income
Periodico
CHILD. Working papers
Anno: 2003 - Fascicolo: 19 - Pagina iniziale: 1 - Pagina finale: 39

In this paper we propose a particular approach to measuring utility of income. To this end we develop a theoretical foundation for a framework that is well suited for empirical analysis. The theoretical approach is based on ideas and principles that are used in modern psychophysical research and theories of probabilistic choice. The empirical part of the paper is based on "Stated Preference" data (SPD). In the present context this means that individuals participating in a laboratory type of experiments are asked to rank order a set of hypothetical altematives presented.



Testo completo: http://www.de.unito.it/web/member/segreteria/WP/Child/2003/child19_2003.pdf

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