Emil P. Iantchev

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Genes are assumed to generate choice behavior in an environment where there are intertemporal tradeoffs. A gene survives the evolutionary process if it is not possible for a rare mutant gene to grow at a faster rate. Our goal is to represent the choice behavior of the surviving genes by a preference relation. We show that if choices affect the number of(More)
I use data on individual pay and output from Safelite Corp. to estimate a principal-agent model with moral hazard in which the agent has preferences that approximate various specifications of reference dependence, diminishing sensitivity, and loss aversion, as well as the standard case of CARA utility. Estimating the preference parameters via GMM on the(More)
This paper reviews recent advances in the modelling of hedonic utility and the measurement of its physiological correlates. The paper also argues that incorporating hedonic experiences can enrich economic models. An example of such an application — a principal–agent model with moral hazard — is presented and thoroughly analyzed. Its implications are then(More)
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