Is wealth accumulation a luxury good?

This paper structurally estimates the Capitalist Spirit Model, in which utility derives from direct preferences for wealth. Its results support the hypothesis that wealth accumulation is a luxury good, by showing that the marginal utility from wealth declines more slowly than that from consumption.

MoreLess

Year of publication:	2012
Authors:	Tokuoka, Kiichi
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 115.2012, 3, p. 523-526
Publisher:	Elsevier
Subject:	Wealth \| Luxury good \| Capitalist spirit \| Marginal utility

Online Resource

Check full text access |

More access options

Check Google Scholar

In libraries world-wide (WorldCat)

In German libraries (KVK)

subito order

I need help

More details

Type of publication:	Article
Classification:	D12 - Consumer Economics: Empirical Analysis ; D31 - Personal Income, Wealth and Their Distributions ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010572169