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Title
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Group consumption with caring individuals
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Author
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Abstract
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| We propose a novel approach to model joint consumption decisions of individuals who care for each other. The model encompasses a continuum of group consumption models situated between the fully co-operative model and the non-cooperative model without caring. We also define a measure for the degree of intragroup cooperation that quantifies how close the observed group behaviour is to fully co-operative behaviour. Following a revealed preference approach, we derive testable implications of the model for empirical data. We use our model to analyse decisions made by children in an experimental setting. |
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Language
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English
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Source (journal)
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The economic journal: the quarterly journal / Royal Economic Society [London] - London
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Publication
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London
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2019
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ISSN
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0013-0133
[print]
1468-0297
[online]
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DOI
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10.1093/EJ/UEZ052
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Volume/pages
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130
:627
(2020)
, p. 587-622
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ISI
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000546131900002
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Full text (Publisher's DOI)
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