Keeping Up with the Joneses: Other-Regarding Preferences and Endogenous Growth
نویسندگان
چکیده
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 کاملOther-Regarding Preferences and Consequentialism
This dissertation addresses a basic difficulty in accommodating other-regarding preferences within existing models of decision making. Decision makers with such preferences may violate the property of stochastic dominance that is shared by both expected utility and almost any model of non-expected utility. At its core, stochastic dominance requires a decision maker's behavior to conform to a ba...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2017
ISSN: 1556-5068
DOI: 10.2139/ssrn.3050836