Bilancini, Ennio; Boncinelli, Leonardo - In: Journal of Public Economics 96 (2012) 9-10, pp. 651-657
conspicuous consumption in order to differentiate themselves from the poor. If, instead, status depends in a cardinal way on … the equilibrium outcome of the model, and in particular the relationship between inequality and wasteful conspicuous … consumption. We find that if status depends in an ordinal way on individuals' relative standing in terms of economic resources …