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's economic position relative to a reference group. Using merged data on race and state level income, we demonstrate that a key … prediction of our model -- that visible consumption should be declining in mean reference group income -- is strongly borne out … in the data separately for each racial group. Moreover, we show that accounting for differences in reference group income …
Persistent link: https://www.econbiz.de/10012759843
A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is...
Persistent link: https://www.econbiz.de/10013127977
This paper reports estimates of consumers' preferences for plans to improve food safety. The plans are distinguished based on whether they address the ex ante risk of food borne illness or the ex post effects of the illness. They are also distinguished based on whether they focus on a public...
Persistent link: https://www.econbiz.de/10012758450
: consumer surplus from a hospital demand system and the fraction of population hospital admissions that would be covered by the … consumer willingness-to-pay for network breadth, which varies by age. 60-year-olds value the broadest network approximately …
Persistent link: https://www.econbiz.de/10013031017
Much has been said about the stylized fact that the economically successful are not only wealthier but also healthier than the less affluent. There is little doubt about the existence of this socio-economic gradient in health, but there remains a vivid debate about its source. In this paper, we...
Persistent link: https://www.econbiz.de/10013121729
We study quot;habituationquot; to income and to status using individual panel data on the happiness of 7,812 people … income and status and compare the long run effects. We can (cannot) reject the hypothesis of no adaptation to income (status …) during the four years following an income (status) change. In the short-run (current year) a one standard deviation increase …
Persistent link: https://www.econbiz.de/10012776806
There are many possible pathways between parental education, income, and health, and between child health and education … status (as measured by education, income, occupation, or in some cases area of residence) and child health, and between child … health and adult education or income. Specifically, I ask two questions: What is the evidence regarding whether parental …
Persistent link: https://www.econbiz.de/10012759322
are in much worse health than those at the top. This health gradient exists whether education, income, or financial wealth …. Finally, feedbacks from new health events to household income are one of the reasons that underlie the strength of the income …
Persistent link: https://www.econbiz.de/10012760555
We use a unique sample of Russian immigrants and natives in Israel to examine the return to English knowledge. In cross-section estimates there is a significant return to English knowledge for both immigrants and natives with high levels of education. Language acquisition is an important element...
Persistent link: https://www.econbiz.de/10012760705
In this paper we investigate the effect of relative income on marital status. We develop an identity model based on … hypothesize that the quot;marriage idealquot; is determined by the median income in an individual's local reference group. After … controlling flexibly for the absolute level of income and a number of other factors, the ratio between a man's income and the …
Persistent link: https://www.econbiz.de/10012764627