Is Concern for Relative Consumption a Function of Relative Consumption?
AbstractBy using hypothetical choice experiments, this paper presents evidence that individuals' concern for relative consumption depends on their relative consumption. Individuals with consumption levels above society's average consumption level tend to have, in general, lower concern for relative consumption. This supports Duesenberry's (1949) notion that people are more concerned with upward social comparison than with downward social comparison.
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Bibliographic InfoPaper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 220.
Length: 16 pages
Date of creation: 30 Jun 2006
Date of revision:
Publication status: Published in Journal of Socio Economics, 2008, pages 353-364.
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Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
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Relative consumption; marginal degree of positionality; choice experiments; questionnaire-experimental methods;
Find related papers by JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
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