Bordalo, Gennaioli, Lanzani, and Shleifer develop a cognitive theory of choice in which a decision maker's attention to the features of options is determined by her categorization of the current …
This 1958 Journal of Political Economy paper by Paul Samuelson builds a deliberately stripped-down model of a world in which goods cannot be stored or invested -- nothing "keeps" -- so people can only …
PublishedClassicQuarterly Journal of EconomicsPublished Feb 1997
This paper argues that once consumers face meaningful, uninsurable income risk and are "impatient," they behave as buffer-stock savers who hold a target wealth-to-income ratio and whose average …
PublishedQuarterly Journal of EconomicsOnline 13 Jan 2026Published Apr 2026
This paper investigates whether individuals who have experienced stronger GDP growth over their lifetimes are more likely to trust their national government. The authors — Besley, Dann, and Dray — …
PublishedJournal of Political EconomyPublished Jun 2026
Capatina and Keane build and calibrate a life-cycle model of labor supply and savings for U.S. men that incorporates health shocks, endogenous human capital accumulation via learning-by-doing, …
PublishedAmerican Economic ReviewPublished Jun 2026
This paper develops a revealed-preference theory that uses asset-market data to identify whether investors have a preference for early resolution of uncertainty (PER), a property of non-expected …
PublishedReview of Economic StudiesOnline 20 Nov 2025Published Sep 2026
This paper asks how wage inequalities build up over the life cycle when individual wage trajectories are plagued by interruptions in private-sector participation, and when the standard Missing At …
Online FirstReview of Economic StudiesOnline 2 Feb 2026
Schmidt and von Wangenheim develop a dynamic model of organizational change in which workers have reference-dependent preferences — specifically loss aversion and social comparisons — to explain …
This paper shows that if consumers maximize expected lifetime utility subject to an intertemporal budget constraint under uncertain future earnings -- the standard life cycle-permanent income model -- …
This 1985 Journal of Monetary Economics paper by Rajnish Mehra and Edward C. Prescott documents that over 1889-1978 U.S. equities earned about seven percent real return per year on average while …