Keeping up with the Joneses: Who loses out?

When individuals compare themselves to those with the same wage-rate, status concerns–Keeping up with the Joneses–lead individuals to work who otherwise would have chosen not to, and, for them, well-being is a decreasing function of the wage rate.

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Year of publication:	2014
Authors:	Ulph, David
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 125.2014, 3, p. 400-403
Publisher:	Elsevier
Subject:	Veblen effects \| Labour supply \| Nash equilibrium \| Wages and well-being

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Type of publication:	Article
Classification:	D11 - Consumer Economics: Theory ; I31 - General Welfare; Basic Needs; Quality of Life ; J22 - Time Allocation and Labor Supply
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011116219