منابع مشابه
Keeping up with the Joneses
In field-capital theory, people acquire economic, social and cultural capital which they deploy in social arenas known as "fields" to compete for positions of distinction and status. Competitive behaviour in these fields is of interest to marketers. Examining human behaviour through the lens of field and capital theory highlights the importance of the competition motive in explaining consumers'...
متن کاملKeeping Up with the Joneses and the Home Bias
We argue that when individuals care about their consumption relative to that of their neighbors, a home bias emerges, that is investors overweight domestic stocks in their portfolios. Domestic stocks are preferred because they also serve the objective of mimicking the economic fortunes and welfare of the investor’s neighbors, countrymen, and social reference group. We also demonstrate that glob...
متن کاملKeeping Up with the Joneses: Evidence from Micro Data
This paper provides evidence that habit persistence is an important determinant of household consumption choices in a setting that allows for individual heterogeneity and credit constraints. By using actual individual consumption data, I find that the strength of the external habit, captured by the consumption of the reference group, is 0.290; while the strength of internal habit, represented b...
متن کاملKeeping up with the Joneses--comparison of fees.
D ollar for dollar, the provinces with the highest veterinary fees in Canada are the conspicuous ones — Alberta with its oil-fueled hyperinflation, and Ontario with its long history of economic research and fee guides. However, most provinces have similar fees after adjustments have been made for differences in cost of living. In 4 of the 7 provinces studied, the cost of living adjusted compani...
متن کاملKeeping up with the Joneses or responding to job uncertainty? The spread of CEO severance agreements
The percentage of S&P500 firms that offer ex-ante severance agreements to their CEOs grew from 20% in 1993 to more than 55% in 2007 despite controversial discussions on executive severance contracts in the media and academic studies. In addition, about 40% of firms offer their CEOs severance contracts with cash-only payouts. Our paper focuses on this recent spread of ex-ante CEO severance agree...
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ژورنال
عنوان ژورنال: Macroeconomic Dynamics
سال: 2010
ISSN: 1365-1005,1469-8056
DOI: 10.1017/s1365100510000301