Article ID Journal Published Year Pages File Type
970289 The Journal of Socio-Economics 2008 12 Pages PDF
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.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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