Millions of women entrepreneurs in subsistence contexts face consumption constraints while embedded in strongly patriarchal social institutions. In these contexts, the place for women is believed to be within the home...
详细信息
Millions of women entrepreneurs in subsistence contexts face consumption constraints while embedded in strongly patriarchal social institutions. In these contexts, the place for women is believed to be within the home as homemakers and not in the market as entrepreneurs. Yet these women are able to overcome gender-based institutional barriers and engage with the marketplace as entrepreneurs as a way to overcome consumption constraints. The authors conducted a longitudinal qualitative study of women entrepreneurs in low-income neighborhoods of Chennai, India, to understand (1) what motivates women to overcome the gender-based institutional barriers to entrepreneurial action and (2) how they can overcome the "iron cage" of institutional norms to initiate and sustain entrepreneurial action. The findings help the authors theorize the process of negotiated agency and elaborate on the microprocesses that underlie its enactment. Substantively, they demonstrate how consumption constraints in poverty trigger entrepreneurial agency among low-income women. The authors build on the findings to offer welfare-enhancing policy recommendations.
This paper investigates continuous-time optimal portfolio and consumption problems under loss aversion in an infinite horizon. The investor's goal is to choose optimal portfolio and consumption policies to maximiz...
详细信息
This paper investigates continuous-time optimal portfolio and consumption problems under loss aversion in an infinite horizon. The investor's goal is to choose optimal portfolio and consumption policies to maximize total discounted S-shaped utility from consumption. The consumption rate process is subject to a downside constraint. The optimal consumption and portfolio policies are obtained through the martingale method and replication technique. Numerical results indicate the differences between the loss averse investor and the constant relative risk averse (CRRA) investor on the optimal consumption and portfolio policies: the loss averse investor likes consuming more money but exposing less to risk than that of the CRRA investor, and the optimal wealth, as a function of state price density, drops faster for the CRRA investor than that for the loss averse investor. (C) 2016 Elsevier Inc. All rights reserved.
We investigate the optimal consumption and investment problem with lower and upper bounds on consumption constraints. We derive closed-form solutions by means of the dynamic programming approach. We also evaluate the ...
详细信息
We investigate the optimal consumption and investment problem with lower and upper bounds on consumption constraints. We derive closed-form solutions by means of the dynamic programming approach. We also evaluate the effects of the optimal consumption and portfolio on consumption constraints and present some numerical/economic implications. In particular, we see that the upper bound on consumption acts as a bliss level in a quadratic utility model.
The purpose of this article is to examine the vulnerability perceived by blind consumers in the marketplace. By analysing the narratives of 16 people that have acquired blindness, we develop an understanding of the in...
详细信息
The purpose of this article is to examine the vulnerability perceived by blind consumers in the marketplace. By analysing the narratives of 16 people that have acquired blindness, we develop an understanding of the internal and external factors that affect their degree of vulnerability and identify their coping strategies. Data analysis consisted of content interpretation and a search for the meaning of the particular experiences, events and states reported by the respondents. Results show how emotional well-being, consumption-facilitating social support, acceptance, autonomy and perceptions about marketplace difficulties all relate to coping mechanisms.
We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called the possibility function...
详细信息
We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called the possibility function. Utility and possibility functions depend on the consumptions of all households. Showing by means of an example that basic assumptions are not enough to guarantee generic regularity, we provide sufficient conditions for generic regularity in the space of endowments and possibility functions.
The article discusses various reports published within the issue including one on consumption constraints, another on the behavior of consumers under consumption constraints, and one on the treatment of disabled consu...
详细信息
The article discusses various reports published within the issue including one on consumption constraints, another on the behavior of consumers under consumption constraints, and one on the treatment of disabled consumers on commercial Web sites.
In the spirit of Smale's work, we consider pure exchange economies with general consumption sets. In this paper, the consumption set of each household is described in terms of a function called possibility functio...
详细信息
In the spirit of Smale's work, we consider pure exchange economies with general consumption sets. In this paper, the consumption set of each household is described in terms of a function called possibility function. The main innovation comes from the dependency of each possibility function with respect to the individual endowments. We prove that, generically in the space of endowments and possibility functions, economies are regular. A regular economy has a finite number of equilibria, which locally depend on endowments and possibility functions in a continuous manner. (C) 2008 Elsevier B.V. All rights reserved.
We provide a model of an incomplete markets economy where private restrictions on consumption are interpreted as lack of information. We prove existence of an equilibrium where agents are unable to infer any additiona...
详细信息
We provide a model of an incomplete markets economy where private restrictions on consumption are interpreted as lack of information. We prove existence of an equilibrium where agents are unable to infer any additional information from prices. When assets are nominal, these non-enlightening equilibrium prices result in a reduction of the degree of real indeterminacy.
暂无评论