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We investigate the importance of relative income within the Indian Caste system, using a choice experiment. We find that slightly more than half of the marginal utility of income comes from some kind of relative income effects, on average, which is comparable to the results from previous studies...
Persistent link: https://www.econbiz.de/10005651677
We find, using survey-experimental methods, that most individuals are concerned with both relative income and relative consumption of particular goods. The degree of concern varies in the expected direction depending on the properties of the good. However, contrary to what has been suggested in...
Persistent link: https://www.econbiz.de/10005651773
Survey data is used to investigate how birth order and having siblings affect positional concerns in terms of success at work and of income. We find that only-children are the most concerned with relative position, but that number of siblings increases the concern among those who grew up...
Persistent link: https://www.econbiz.de/10005651800