Information-Based Relative Consumption Effects
AbstractPreferences exhibit relative consumption effects if a person's satisfaction with their own consumption appears to depend upon how much others are consuming. This paper examines a model of an evolutionary environment in which Nature optimally builds relative consumption effects into preferences in order to compensate for incomplete environmental information. Copyright Econometric Society 2004.
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Bibliographic InfoArticle provided by Econometric Society in its journal Econometrica.
Volume (Year): 72 (2004)
Issue (Month): 1 (01)
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