Ever since the classical works of Smith and Veblen, economists have recognized that individuals care about their relative positions and status in addition to their own consumption. This paper addresses a new framework of choice experiments in order to specify the shape of utility function with...

This paper presents a numerical examination of sustainability from the perspective of "Genuine Savings," using a data set provided by the World Bank. Unlike previously-used criteria of sustainability that focuses on observed paths of genuine savings rates, we consider future sustainability by...

Using original internet-based survey data which was collected in Japan, the authors estimate the parameters of the utility functions with a social comparison using the random utility model framework. In line with classical income comparison literature, this article observes a negative effect of...

This paper provides evidence from Internet-based, large-scale survey data of hypothetical choice experiment on the relative utility hypothesis. The methodology exploited here complements previous empirical results from happiness studies, incentivized choice experiment studies, and neuroscience...

Ever since the classical works of Smith and Veblen, economists have recognized that individuals care about their relative positions and status in addition to their own consumption. This paper addresses a new framework of choice experiments in order to specify the shape of utility function with...

This paper provides numerical examinations on sustainability of genuine saving (GS) using theWorld Bank database. Unlikely to previous criteria of sustainability, we consider future sustainability by focusing on evolution of GS. In this case even if the historical average GS of a country is...

This paper provides numerical examinations on sustainability of genuine saving (GS) using theWorld Bank database. Unlikely to previous criteria of sustainability, we consider future sustainability by focusing on evolution of GS. In this case even if the historical average GS of a country is...

Ever since the classical works of Smith and Veblen, economists have recognized that individuals care about their relative positions and status in addition to their own consumption. This paper addresses a new framework of choice experiments in order to specify the shape of utility function with...

This paper provides evidence from Internet-based, large-scale survey data of hypothetical choice experiment on the relative utility hypothesis. The methodology exploited here complements previous empirical results from happiness studies, incentivized choice experiment studies, and neuroscience...