Information-Based Relative Consumption Effects

Preferences exhibit relative consumption effects if a person's satisfaction with their own consumption appears to depend upon how much others are consuming. This paper examines a model of an evolutionary environment in which Nature optimally builds relative consumption effects into preferences in order to compensate for incomplete environmental information. Copyright Econometric Society 2004.

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Year of publication:	2004
Authors:	Samuelson, Larry
Published in:	Econometrica. - Econometric Society. - Vol. 72.2004, 1, p. 93-118
Publisher:	Econometric Society

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005702077