Life Insurance and Household Consumption
利用按年龄、性别和婚姻状况分类的人寿保险持有数据，推断个体在不同人口阶段如何评价消费，并同时估计等价尺度和遗赠动机，发现个体非常关心受抚养人、规模经济大、儿童成本高、有孩子的妻子生产大量家庭产品，且女性有婚姻习惯而男性没有。
Using life insurance holdings by age, sex, and marital status, we infer how individuals value consumption in different demographic stages. We estimate equivalence scales and bequest motives simultaneously within a fully specified model where agents face US demographics and save and purchase life insurance. Our findings indicate that individuals are very caring for dependents, that economies of scale are large, that children are very costly (or yield very high marginal utility), that wives with children produce lots of home goods, and that females display habits from marriage, while men do not. These findings contrast sharply with standard equivalence scales.