We consider a family of variational regularization functionals for a generic inverse problem, where the data fidelity and regularization term are given by powers of a Hilbert norm and an absolutely one-homogeneous functional, respectively. We investigate the small and large time behavior of the associated solution paths and, in particular, prove finite extinction time for a large class of functionals. Depending on the powers, we also show that the solution paths are of bounded variation or even Lipschitz continuous. In addition, it will turn out that the models are "almost" mutually equivalent in terms of the minimizers they admit. Finally, we apply our results to define and compare two different nonlinear spectral representations of data and show that only one of it is able to decompose a linear combination of nonlinear eigenvectors into the individual eigenvectors. Finally, we also briefly address piecewise affine solution paths.