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Social Status, Culture and Economic Performance

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Author Info
Fershtman, Chaim
Weiss, Yoram

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Abstract

Cultural differences among societies may translate into different social status of occupations and can, therefore, affect the workers' choice of education and occupation and, consequently, the equilibrium level of output and wages. Conversely, the economic choices of individuals influence the social status of occupations. This paper constructs a general equilibrium model in which both wages and status are determined endogenously. The authors show that changes in the demand for status, triggered by changes in preferences or income distribution, influence the wage structure, the level of aggregate output, and economic welfare. Copyright 1993 by Royal Economic Society.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 103 (1993)
Issue (Month): 419 (July)
Pages: 946-59
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Handle: RePEc:ecj:econjl:v:103:y:1993:i:419:p:946-59

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Benabou, R., 1991. "Location, Education, and Production," Working papers 582, Massachusetts Institute of Technology (MIT), Department of Economics.
  2. Weiss, Yoram, 1976. "The Wealth Effect in Occupational Choice," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 17(2), pages 292-307, June. [Downloadable!] (restricted)
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  3. Fershtman, C. & Weiss, Y., 1991. "Social Status , Culture and Economic Performance," Papers 32-91, Tel Aviv.
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  4. Basu, Kaushik, 1989. "A Theory of Association: Social Status, Prices and Markets," Oxford Economic Papers, Oxford University Press, vol. 41(4), pages 653-71, October. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Philip R. P. Coelho & James E. McClure, 1996. "Social context and the utility of wealth: Addressing the Markowitz challenge," Working Papers 199602, Ball State University, Department of Economics, revised Jan 1998. [Downloadable!]
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  2. Schady, Norbert R., 2001. "Who participates : the supply of volunteer labor and the distribution of government programs in rural Peru," Policy Research Working Paper Series 2671, The World Bank. [Downloadable!]
  3. Conchita D’Ambrosio & Joachim R. Frick, 2007. "Individual Well-Being in a Dynamic Perspective," IZA Discussion Papers 2618, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  4. Wei-Bin Zhang, 1995. "A Two-Country Dynamic Trade Model With Multiple Groups," International Economic Journal, Korean International Economic Association, vol. 9(3), pages 67-80, October. [Downloadable!] (restricted)
  5. Laurie Simon Bagwell & B. Douglas Bernheim, 1996. "Conspicuous Consumption, Pure Profits, and the Luxury Tax," NBER Working Papers 4163, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Ana Rute Cardoso, 2005. "Big Fish in Small Pond or Small Fish in Big Pond? An Analysis of Job Mobility," IZA Discussion Papers 1900, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Olivier Baguelin, 2005. "Self-esteem achievement through work and socio-demographic disparities in the labor market," Cahiers de la Maison des Sciences Economiques v05065, Université Panthéon-Sorbonne (Paris 1). [Downloadable!]
  8. Hanming Fang, 2001. "Social Culture and Economic Performance," American Economic Review, American Economic Association, vol. 91(4), pages 924-937, September. [Downloadable!] (restricted)
  9. Fershtman, Chaim & Hvide, Hans K & Weiss, Yoram, 2003. "Cultural Diversity, Status Concerns and the Organization of Work," CEPR Discussion Papers 3982, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  10. Dufwenberg, Martin & Lundholm, Michael, 1997. "Social Norms and Moral Hazard," Working Paper Series 1997:28, Uppsala University, Department of Economics. [Downloadable!]
    Other versions:
  11. Andrea Patacconi & Florian Ederer, MIT, 2005. "Interpersonal Comparison, Status and Ambition in Organisations," Economics Series Working Papers 222, University of Oxford, Department of Economics. [Downloadable!]
  12. Zenginobuz, Unal, 1996. "Concern for relative position, rank-order contests, and contributions to public goods," MPRA Paper 388, University Library of Munich, Germany. [Downloadable!]
  13. Anandi Mani & Charles H. Mullin, 2000. "Social Approval and Occupational Choice," Working Papers 0041, Department of Economics, Vanderbilt University. [Downloadable!]
  14. Lise Vesterlund & Cagri Kumru, 2005. "The Effects of Status on Voluntary Contribution," Working Papers 266, University of Pittsburgh, Department of Economics, revised Jan 2005. [Downloadable!]
  15. Chaim Fershtman & Yoram Weiss, 1991. "Social Status, Culture and Economic Performance," Discussion Papers 1007, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
    Other versions:
  16. Benny Moldovanu & Aner Sela & Xianwen Shi, 2005. "Contests for Status," Discussion Papers 139, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
    Other versions:
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