We investigate the potential welfare cost of relative rank considerations using a series of vignettes and lab-in-the-field experiments with over 2,000 individuals in Abidjan, Ivory Coast. We show that: (1) individuals judged to be of a lower rank are perceived as more likely to be sidelined from...

People care about relative, and not only absolute, income. This paper investigates the importance of relative income within and between castes in the Indian caste system, using a choice experimental approach. The results indicate that slightly more than half of the marginal utility of income...