Conspicuous Consumption, Social Status and Measures of Poverty – An Example
The existing literature on poverty has discussed about the conflict between income-based measure and nutrition-based measure. However, the role of social inequality in influencing individual’s consumption and inducing greater consumption of the so called status good has been relatively undermined. This paper attempts to show that in presence of inequality a status driven utility function reconciles the conflict between income based and nutrition based measures of poverty.
|Date of creation:||Jan 2011|
|Date of revision:||Apr 2011|
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- Ed Hopkins & Tatiana Kornienko, 2010.
"Which Inequality? The Inequality of Endowments versus the Inequality of Rewards,"
American Economic Journal: Microeconomics,
American Economic Association, vol. 2(3), pages 106-37, August.
- Ed Hopkins & Tatiana Kornienko, 2008. "Which Inequality? The Inequality of Endowments Versus the Inequality of Rewards," ESE Discussion Papers 185, Edinburgh School of Economics, University of Edinburgh.
- Hopkins, Ed & Kornienko, Tatiana, 2008. "Which Inequality? The Inequality of Endowments Versus the Inequality of Rewards," SIRE Discussion Papers 2008-13, Scottish Institute for Research in Economics (SIRE).
- Christian Ghiglino & Sanjeev Goyal, 2010. "Keeping Up with the Neighbors: Social Interaction in a Market Economy," Journal of the European Economic Association, MIT Press, vol. 8(1), pages 90-119, 03.
- Fafchamps, Marcel & Shilpi, Forhad, 2006.
"Subjective Welfare, Isolation and Relative Consumption,"
CEPR Discussion Papers
6002, C.E.P.R. Discussion Papers.
- Fafchamps, Marcel & Shilpi, Forhad, 2008. "Subjective welfare, isolation, and relative consumption," Journal of Development Economics, Elsevier, vol. 86(1), pages 43-60, April.
- Marcel Fafchamps & Forhad Shilpi, 2006. "Subjective Welfare, Isolation, and Relative Consumption," Economics Series Working Papers GPRG-WPS-056, University of Oxford, Department of Economics.
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