Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
970289 | The Journal of Socio-Economics | 2008 | 12 Pages |
Abstract
By using hypothetical choice experiments, this paper presents evidence that individuals’ concern for relative consumption depends on their relative consumption. Individuals with consumption levels above society's average consumption level tend to have, in general, lower concern for relative consumption. This supports Duesenberry's [Duesenberry, J.S., 1949. Income, Saving, and the Theory of Consumer Behavior. Havard Univeristy Press, Cambridge, MA] notion that people are more concerned with upward social comparison than with downward social comparison.
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Social Sciences and Humanities
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Economics and Econometrics
Authors
Fredrik W. Andersson,