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Status Risk-Aversion and Following Behaviour in Social and Economic Settings

Author

Listed:
  • Clark, A.E.
  • Oswald, A.

Abstract

This paper describes a theory of rational emulation and deviance. It assumes that individuals care about relative position (or 'status'), and constructs a model of decision-making in social and economic settings.

Suggested Citation

  • Clark, A.E. & Oswald, A., 1996. "Status Risk-Aversion and Following Behaviour in Social and Economic Settings," The Warwick Economics Research Paper Series (TWERPS) 476, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:476
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    File URL: https://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/1995-1998/twerp476.pdf
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    References listed on IDEAS

    as
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    4. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
    5. Grossman, Sanford J & Hart, Oliver D, 1981. "Implicit Contracts, Moral Hazard, and Unemployment," American Economic Review, American Economic Association, vol. 71(2), pages 301-307, May.
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    7. Bover, Olympia & Muellbauer, John & Murphy, Anthony, 1989. "Housing, Wages and UK Labour Markets," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 51(2), pages 97-136, March.
    8. Rafael Di Tella & Robert J. MacCulloch, 2002. "The Determination of Unemployment Benefits," Journal of Labor Economics, University of Chicago Press, vol. 20(2), pages 404-434, Part.
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    More about this item

    Keywords

    SOCIAL PSYCHOLOGY; RISK;

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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