Is Concern for Relative Consumption a Function of Relative Consumption?
By 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.
|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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