CARLSSON, FREDRIK; JOHANSSON-STENMAN, OLOF; MARTINSSON, … - In: Economica 74 (2007) 296, pp. 586-598
Although conventional economic theory proposes that only the absolute levels of income and consumption matter for people's utility, there is much evidence that relative concerns are often important. This paper uses a choice experiment to measure people's perceptions of the degree to which such...