Shrestha, Ratna K; Cheung, Kwang Soo - Department of Economics, University of Hawaii-Manoa - 2001
By considering social status-seeking consumers who derive utility from the social recognition of their contributions to … only to the extent that his contribution is socially recognized and hence his social status enhanced. Specifically, his … utility is represented by a function not only of his consumption of private and public goods but also his social status, which …