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A Comparative Study of Student Demand for Status in Ireland, Italy and the United States

Author

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  • Gerry Boyle
  • Kenneth Greene
  • Phillip Nelson
  • Mario Pagliero

Abstract

This paper reports on results of surveys of hundreds of students in Italy, Ireland and the United States that show that if simply confronted with questions about their preferences for high relative income at the expense of absolute income that a) a substantial fractiongive inconsistent answers and b) that the remainder are overwhelmingly status conscious. It also shows that where they are given more information about the benefits of higher real income that there is a significant decrease in this preference for status. The results are remarkably similar in all 3 countries and what differences exist are consistent with what we know about their differences in intergenerational income mobility. It also sho ws that when the price of status is changed American students response is highly inconsistent with any fully formed preferences for status. This is somewhat less so in Italy. Overall the results throw doubt on one of the empirical linchpins that has been used to bolster the idea that relative income is what people seek.

Suggested Citation

  • Gerry Boyle & Kenneth Greene & Phillip Nelson & Mario Pagliero, 2007. "A Comparative Study of Student Demand for Status in Ireland, Italy and the United States," ICER Working Papers 01-2007, ICER - International Centre for Economic Research.
    • Handle: RePEc:icr:wpicer:01-2007
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    File URL: http://www.bemservizi.unito.it/repec/icr/wp2007/ICERwp01-07.pdf
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    References listed on IDEAS

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    1. Checchi, Daniele & Ichino, Andrea & Rustichini, Aldo, 1999. "More equal but less mobile?: Education financing and intergenerational mobility in Italy and in the US," Journal of Public Economics, Elsevier, vol. 74(3), pages 351-393, December.
    2. Manuel Arellano & Costas Meghir, 1992. "Female Labour Supply and On-the-Job Search: An Empirical Model Estimated Using Complementary Data Sets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(3), pages 537-559.
    3. Bjorklund, Anders & Jantti, Markus, 1997. "Intergenerational Income Mobility in Sweden Compared to the United States," American Economic Review, American Economic Association, vol. 87(5), pages 1009-1018, December.
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    Cited by:

    1. Grolleau, Gilles & Ibanez, Lisette & Mzoughi, Naoufel, 2012. "Being the best or doing the right thing? An investigation of positional, prosocial and conformist preferences in provision of public goods," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 705-711.

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