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Divisible Conspicuous Good

Author

Listed:
  • Bosi, S.

Abstract

There are two goods in the economy: a numeraire and a conspicuous (or positional) good. A type maximizes his utility which is a function of the numeraire and the inference of his unobservable rank by other agents. A conspicuous good is an observed signal and Bayesian inference is given by a prior that is common to all agents. This prior is a density that is a function of the rank and that is conditional to the signal. Equilibrium prior is endogenous.

Suggested Citation

  • Bosi, S., 1996. "Divisible Conspicuous Good," DELTA Working Papers 96-10, DELTA (Ecole normale supérieure).
    • Handle: RePEc:del:abcdef:96-10
    as

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    More about this item

    Keywords

    HOUSEHOLD; CONSUMPTION;

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • D10 - Microeconomics - - Household Behavior - - - General

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