Heterogenous preferences in consumption: aggregate channels, dynamics, and competition concerns

在过去的几十年里，大多数经济体都有三个主要现象：1）集中度上升，2）生产率增长放缓，3）不平等加剧。这三个经验事实与新古典主义的解释是不一致的，在这个项目中，我想探讨的是，将消费中的分配偏好表述为财富的函数，是否可以为尽管生产率放缓但集中度却有所上升提供合理的解释。

In the past decades most economies have been characterised by three main phenomena: 1) rising concentration, 2) slowing productivity growth, 3) increasing inequality. These three empirical facts are at odds with the neoclassical explanation, and in this project I want to explore whether formulating distributional preferences in consumption as a function of wealth can provide a sensible explanation for the registered increase in concentration despite the productivity slowdown.