Showing 1 - 10 of 329
We investigate Veblen effects on work hours, namely the way that a desire to emulate the consumption standards of the rich induces longer work hours among the rest. Consistent with our model of these asymmetric social comparisons, greater inequality predicts longer work hours in ten OECD...
Persistent link: https://www.econbiz.de/10011527208
in the literature and variables specifically related to emulation, income level, income distribution and urbanization …
Persistent link: https://www.econbiz.de/10011051794
consumption generated by people's status-seeking behavior. They consider the joint role of pre-tax wage inequality and of social … norms determining how social status is assigned. They find that when social status is ordinal (i.e., only one's rank in the … income distribution matters) inequality and taxation are substitutes. Instead, when status is cardinal (i.e., also the shape …
Persistent link: https://www.econbiz.de/10012007390
consumption generated by people's status-seeking behavior. They consider the joint role of pre-tax wage inequality and of social … norms determining how social status is assigned. They find that if social status is ordinal (i.e., only one's rank in the …-tax wages (or earning potentials) is low enough - i.e., inequality and taxation are substitutes. Instead, if status is cardinal …
Persistent link: https://www.econbiz.de/10011846978
In this article the author considers an economy in which individuals are matched into pairs and the desirability of an individual depends on her position on the distribution of wealth. The author assumes that individuals show their relative standing by consuming a conspicuous good and he shows...
Persistent link: https://www.econbiz.de/10011811294
In this article the author considers an economy in which individuals are matched into pairs and the desirability of an individual depends on her position on the distribution of wealth. He assumes that individuals show their relative standing by consuming a conspicuous good and he shows that...
Persistent link: https://www.econbiz.de/10011899205
This paper examines the impact of income growth and income inequality on household saving rates and payoffs in a non-cooperative game where each player’s payoff depends on her present and future consumption and her rank in the present consumption distribution. The setting is a pooling...
Persistent link: https://www.econbiz.de/10011877943
This paper examines the impact of income growth and income inequality on household saving rates and payoffs in a non-cooperative game where each player's payoff depends on her present and future consumption and her rank in the present-consumption distribution. The setting is a pooling...
Persistent link: https://www.econbiz.de/10011789399
status competition (e.g. Hopkins and Kornienko, 2004) since the number of within-group peers who possess a similar income …
Persistent link: https://www.econbiz.de/10010327364
This paper provides an analysis of the social consequences of people seeking to keep up with the Joneses. All individuals attempt to reach a higher rank than the Joneses, including the Joneses themselves. This attitude gives rise to an equilibrium in which all individuals have equal utilities...
Persistent link: https://www.econbiz.de/10010528644