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Social Status and Economic Performance: A Survey

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  • Weiss, Y.
  • Fershtman, C.

Abstract

This survey combines ideas and results from sociology and economics, recognizing that economic decisions are often shaped by social concerns and influences. Based on the sociological literature, we define social status and describe its measurement. We then describe the role of social status in economic analysis of saving and consumption, wages and economic growth. We review recent work on status determination in equilibrium, including evolutionary models. We conclude with some remarks on the need for further interaction between sociology and economics.

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Bibliographic Info

Paper provided by Tel Aviv in its series Papers with number 19-97.

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Length: 17 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:teavfo:19-97

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Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.
Phone: 972-3-640-9255
Fax: 972-3-640-5815
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Web page: http://econ.tau.ac.il/research/foerder.asp
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Keywords: WEALTH ; WAGES;

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References

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  1. Heng-fu Zou, 1991. "The spirit of capitalism and long-run growth," Policy Research Working Paper Series 630, The World Bank.
  2. Fershtman, C. & Weiss, Y., 1996. "Social Rewards Externalities and Stable Preferences," Papers 17-96, Tel Aviv.
  3. Ted Bergstrom, . "On the Evolution of Altruistic Ethical Rules for Siblings," Papers _023, University of Michigan, Department of Economics.
  4. George A. Akerlof, 1978. "A theory of social custom, of which unemployment may be one consequence," Special Studies Papers 118, Board of Governors of the Federal Reserve System (U.S.).
  5. Fershtman, Chaim & Murphy, Kevin M & Weiss, Yoram, 1996. "Social Status, Education, and Growth," Journal of Political Economy, University of Chicago Press, vol. 104(1), pages 108-32, February.
  6. Robson, Arthur J, 1992. "Status, the Distribution of Wealth, Private and Social Attitudes to Risk," Econometrica, Econometric Society, vol. 60(4), pages 837-57, July.
  7. Lindbeck, Assar & Nyberg, Sten & Weibull, Jörgen W., 1997. "Social Norms and Economic Incentives in the Welfare State," Working Paper Series 476, Research Institute of Industrial Economics.
  8. Harold L. Cole & George J. Mailath & Andrew Postlewaite, . "Class Systems and the Enforcement of Social Norms," Penn CARESS Working Papers bdb2c3969ad56e98068513c7c, Penn Economics Department.
  9. Yoram Weiss & Lee A. Lillard, 1976. "Experience, Vintage and Time Effects in the Growth of Earnings: AmericanScientists, 1960-1970," NBER Working Papers 0138, National Bureau of Economic Research, Inc.
  10. 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.
  11. Elster, Jon, 1989. "Social Norms and Economic Theory," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 99-117, Fall.
  12. Heng-fu Zou, 1995. "The spirit of capitalism and savings behavior," CEMA Working Papers 79, China Economics and Management Academy, Central University of Finance and Economics.
  13. Baron, James N & Hannan, Michael T, 1994. "The Impact of Economics on Contemporary Sociology," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1111-46, September.
  14. Alan S. Blinder, 1988. "The Challenge of High Unemployment," NBER Working Papers 2489, National Bureau of Economic Research, Inc.
  15. Bernheim, B Douglas, 1994. "A Theory of Conformity," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 841-77, October.
  16. repec:fth:iniesr:476 is not listed on IDEAS
  17. Robson, Arthur J., 1996. "The Evolution of Attitudes to Risk: Lottery Tickets and Relative Wealth," Games and Economic Behavior, Elsevier, vol. 14(2), pages 190-207, June.
  18. Okuno-Fujiwara Masahiro & Postlewaite Andrew, 1995. "Social Norms and Random Matching Games," Games and Economic Behavior, Elsevier, vol. 9(1), pages 79-109, April.
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