Showing 1 - 10 of 23
We relate an observed difference between single men (SM) and single women (SW) in attitudes towards risk to the higher value assigned to social status by SM than by SW. In the marriage market, low status carries a harsher penalty for SM than for SW because when selecting a partner, the social...
Persistent link: https://www.econbiz.de/10011383356
This paper argues that an increase in the inequality of wealth prompts a stronger quest for status that in turn fosters the accumulation of wealth. It proposes a measure for an individual’s want of social status. For a given level of a population’s wealth, the corresponding aggregate measure...
Persistent link: https://www.econbiz.de/10009729676
A theory is developed of labor migration that is prompted by a desire to avoid "social humiliation". In a general equilibrium framework it is shown that as long as migration can reduce humiliation sufficiently, migration will occur even between two identical economies. Migration increases the...
Persistent link: https://www.econbiz.de/10009733804
This paper argues that an increase in the inequality of wealth prompts a stronger quest for status that in turn fosters the accumulation of wealth. It proposes a measure for an individual’s want of social status. For a given level of a population’s wealth, the corresponding aggregate measure...
Persistent link: https://www.econbiz.de/10002584206
This paper argues that an increase in the inequality of wealth prompts a stronger quest for status that in turn fosters the accumulation of wealth. It proposes a measure for an individual's want of social status. For a given level of a population's wealth, the corresponding aggregate measure of...
Persistent link: https://www.econbiz.de/10012911262
Let there be two individuals: “rich,” and “poor.” Due to inefficiency of the income redistribution policy, if a social … planner were to tax the rich in order to transfer to the poor, only a fraction of the taxed income would be given to the poor … maximize the sum of the individuals' utilities. However, when individuals prefer not only to have more income but also not to …
Persistent link: https://www.econbiz.de/10012992345
Drawing on the literature of occupational status and social distance, a theory is developed of labor migration that is prompted by a desire to avoid “social humiliation.” A closed-economy general equilibrium model that incorporates occupational status and examines the interaction between the...
Persistent link: https://www.econbiz.de/10014200249
Persistent link: https://www.econbiz.de/10002569905
Persistent link: https://www.econbiz.de/10003931182
Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion leads to a novel explanation of variation in risk-taking behavior identified and documented by social psychologists and economists. We obtain two results: (1) Holding individual...
Persistent link: https://www.econbiz.de/10012136176