This paper argues that an increase in the inequality of wealth prompts a stronger quest for status that in turn fosters … coefficient of wealth inequality. Hence the Gini coefficient and growth are positively correlated, holding the population’s wealth … the accumulation of wealth. It proposes a measure for an individual’s want of social status. For a given level of a …

This paper argues that an increase in the inequality of wealth prompts a stronger quest for status that in turn fosters … coefficient of wealth inequality. Hence the Gini coefficient and growth are positively correlated, holding the population's wealth … the accumulation of wealth. It proposes a measure for an individual's want of social status. For a given level of a …

proximity in the income distribution to the reference individual. …

proximity in the income distribution to the reference individual. …

Assuming that an individual's rank in the wealth distribution is the only factor determining the individual's wellbeing … preferences towards gaining or losing absolute wealth. We show that in this characterization of preferences, a high … aversion with respect to rank in the wealth distribution is a decreasing function of rank. This result is robust to …

Assuming that an individual's rank in the wealth distribution is the only factor determining the individual's wellbeing … preferences towards gaining or losing absolute wealth. We show that in this characterization of preferences, a high … aversion with respect to rank in the wealth distribution is a decreasing function of rank. This result is robust to …

Assuming that an individual’s rank in the wealth distribution is the only factor determining the individual’s wellbeing … preferences towards gaining or losing absolute wealth. We show that in this characterization of preferences, a high … aversion with respect to rank in the wealth distribution is a decreasing function of rank. This result is robust to …

his relative wealth, and by how concerned he is about having low relative wealth. Holding constant the individual …'s absolute wealth, we obtain two results. First, if the individual's level of concern about low relative wealth does not change …, the individual becomes more risk averse when he rises in the wealth hierarchy. Second, if the individual's level of …

his relative wealth, and by how concerned he is about having low relative wealth. Holding constant the individual …'s absolute wealth, we obtain two results. First, if the individual's level of concern about low relative wealth does not change …, the individual becomes more risk averse when he rises in the wealth hierarchy. Second, if the individual's level of …

his relative wealth, and by how concerned he is about having low relative wealth. Holding constant the individual …'s absolute wealth, we obtain two results. First, if the individual's level of concern about low relative wealth does not change …, the individual becomes more risk averse when he rises in the wealth hierarchy. Second, if the individual's level of …