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 …

Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion … economists. We obtain two results: (1) Holding individual i’s wealth and his rank in the wealth distribution constant, the … wealth of the individuals who are wealthier than he is. (2) If relative deprivation enters the individual’s utility function …

Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion … economists. We obtain two results: (1) Holding individual i's wealth and his rank in the wealth distribution constant, the … wealth of the individuals who are wealthier than he is. (2) If relative deprivation enters the individual's utility function …

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 …

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 …

by 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 …