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Who are the Joneses You are Keeping up with?

Author

Listed:
  • Mengyuan Zhou

    (Graduate School of Economics, Keio University)

Abstract

This study empirically investigates the choice of subjective reference group in a standard of living comparison and how this group was selected in Japan and the United States.

Suggested Citation

  • Mengyuan Zhou, 2018. "Who are the Joneses You are Keeping up with?," Economics Bulletin, AccessEcon, vol. 38(3), pages 1261-1266.
    • Handle: RePEc:ebl:ecbull:eb-18-00508
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2018/Volume38/EB-18-V38-I3-P121.pdf
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    References listed on IDEAS

    as
    1. Abel, Andrew B, 1990. "Asset Prices under Habit Formation and Catching Up with the Joneses," American Economic Review, American Economic Association, vol. 80(2), pages 38-42, May.
    2. AndrewE. Clark & Claudia Senik, 2010. "Who Compares to Whom? The Anatomy of Income Comparisons in Europe," Economic Journal, Royal Economic Society, vol. 120(544), pages 573-594, May.
    3. Eiji Mangyo & Albert Park, 2011. "Relative Deprivation and Health: Which Reference Groups Matter?," Journal of Human Resources, University of Wisconsin Press, vol. 46(3), pages 459-481.
    4. Xiaohong Chen & Sydney C. Ludvigson, 2009. "Land of addicts? an empirical investigation of habit-based asset pricing models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(7), pages 1057-1093.
    5. Goerke, Laszlo & Pannenberg, Markus, 2015. "Direct evidence for income comparisons and subjective well-being across reference groups," Economics Letters, Elsevier, vol. 137(C), pages 95-101.
    6. Yamada, Katsunori & Sato, Masayuki, 2013. "Another avenue for anatomy of income comparisons: Evidence from hypothetical choice experiments," Journal of Economic Behavior & Organization, Elsevier, vol. 89(C), pages 35-57.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Reference Groups; Standard of Living Comparison;

    JEL classification:

    • Z0 - Other Special Topics - - General

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