markets, is a way to move wealth around states of nature in order to smooth consumption. The aim is to construct the system of …

Both relational and positional goods are based upon an idea of joint consumption - thought with opposite signs. In both … cases, agents are not self-regarded, but their consumption choices are other-regarded. Moreover, relational good lies on … identity of its consumers. It implies a certain degree of positionality within the consumption of relational goods. Analogously …