Utility Theory

    At the Institute, we're expanding the way economists think about human welfare.
    By exploring the philosophical and psychological foundations of Utility Theory, we can better understand human happiness and behavior.

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    The Consumption Response to Liquidity-Enhancing Transfers: Evidence from Italian Earthquakes

    Exploiting three earthquakes in Italy as quasi-experiments, we analyse the response of homeowners’ consumption to transfers targeted to finance housing repair and reconstruction. To the extent that funds are made available up-front, these transfers are akin to loans, mainly affecting the liquidity of households’ wealth Read more