Thursday, June 12, 2003
Or maybe entertainers
Professor Sargent, I don't quite understand what you mean by "preference shocks". I thought that violates xxx's assumption that household's preference is constant over time...Those were the days, my friends. {Hat tip: Newmark's Door.}Sargent: So, I woke up in the morning. I wanted to go play basketball with my buddies. Then I was told that today was the day to mow the lawn. That's preference shock.
You wake up sick, that's preference shock. It turns out to be important in some model with health.
You guys don't get emails like I did. Dear Professor Sargent I love to take you exam but my grandmother died yesterday. Grandmothers always die during basketball seasons. My friend in Minnesota, he has a student whose grandma died three years in a row. His story was that his grandpa remarried."