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The poverty of growth with interdependent utility functions

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  • Komlos, John
  • Salamon, Peter

Abstract

We argue that with interdependent utility functions growth can lead to a decline in total welfare of a society if the gains from growth are sufficiently unequally distributed in the presence of negative externalities in consumption, i.e. envy.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

Volume (Year): 37 (2008)
Issue (Month): 6 (December)
Pages: 2242-2247

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Handle: RePEc:eee:soceco:v:37:y:2008:i:6:p:2242-2247

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Web page: http://www.elsevier.com/locate/inca/620175

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Keywords: Interdependent utility functions Growth Inequality;

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References

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  1. Cooper, B. & Garcia-Penalosa, C., 1998. "Status Effects and Neganive Utility Growth," Economics Papers 150, Economics Group, Nuffield College, University of Oxford.
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  8. Kapteyn, Arie & Van Herwaarden, Floor G., 1980. "Interdependent welfare functions and optimal income distribution," Journal of Public Economics, Elsevier, vol. 14(3), pages 375-397, December.
  9. Ng, Yew-Kwang, 1987. "Diamonds Are a Government's Best Friend: Burden-Free Taxes on Goods Valued for Their Values," American Economic Review, American Economic Association, vol. 77(1), pages 186-91, March.
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  16. Basmann, R L & Molina, D J & Slottje, D J, 1983. "Budget Constraint Prices as Preference Changing Parameters of Generalized Fechner-Thurstone Direct Utility Functions," American Economic Review, American Economic Association, vol. 73(3), pages 411-13, June.
  17. Fisher, Franklin M, 1977. "On Donor Sovereignty and United Charities," American Economic Review, American Economic Association, vol. 67(4), pages 632-38, September.
  18. Konrad, Kai A., 1992. "Wealth seeking reconsidered," Journal of Economic Behavior & Organization, Elsevier, vol. 18(2), pages 215-227, July.
  19. Cole, Harold L & Mailath, George J & Postlewaite, Andrew, 1992. "Social Norms, Savings Behavior, and Growth," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1092-1125, December.
  20. Konrad, Kai A, 1990. "Statuspraferenzen: Soziobiologische Ursachen, Statuswettrusten und seine Besteuerung. (With English summary.)," Kyklos, Wiley Blackwell, vol. 43(2), pages 249-72.
  21. Frank, Robert H, 1987. "If Homo Economicus Could Choose His Own Utility Function, Would He Want One with a Conscience?," American Economic Review, American Economic Association, vol. 77(4), pages 593-604, September.
  22. Spiegel, Uriel & Templeman, Joseph, 1985. "Interdependent utility and cooperative behavior," Journal of Comparative Economics, Elsevier, vol. 9(3), pages 314-328, September.
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Cited by:
  1. Gonzales-Eiras, Martín & Niepelt, Dirk, 2004. "Sustaining Social Security," Seminar Papers 731, Stockholm University, Institute for International Economic Studies.

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