The intersection of recent advancements in generative artificial intelligence and blockchain technology has propelled digital art into the spotlight. Digital art pricing recognizes that owners derive utility beyond the artwork's inherent value. We incorporate the consumption utility associated...

With Saudi Arabia's tendency to implement a policy of economic openness to the world from the early 1980s, the phenomenon of conspicuous consumption (society of consumption and imitation) has increased. Due to the adoption of the concepts of economic globalization, changing consumption patterns,...

Empirical research on the relationship between economic inequality and crime has focused on income inequality, despite the fact that income is not easily observed. We extend this literature by shifting the focus from income to its visible manifestation – conspicuous consumption. Using...

This paper provides an analysis of the social consequences of people seeking to keep up with the Joneses. All individuals attempt to reach a higher rank than the Joneses, including the Joneses themselves. This attitude gives rise to an equilibrium in which all individuals have equal utilities...

This paper provides an analysis of the social consequences of people seeking to keep up with the Joneses. All individuals attempt to reach a higher rank than the Joneses, including the Joneses themselves. This attitude gives rise to an equilibrium in which all individuals have equal utilities...

This chapter brings together some of the recent empirical and experimental evidence regarding preferences for social status. While briefly reviewing evidence from different literatures that is consistent with the existence of preferences for status, we pay special attention to experimental work...