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Income, Saving, and the Theory of Consumer Behavior
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The article was published on 1949-01-01 and is currently open access. It has received 2738 citations till now. The article focuses on the topics: Permanent income hypothesis & Marginal propensity to save.read more
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Contests for Status
TL;DR: In this article, the optimal design of organizations under the assumption that agents in a contest care about their relative position is studied, and the authors connect the optimal partition in status categories to various properties of the distribution of ability among contestants.
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Health, income and relative deprivation: evidence from the BHPS.
Andrew M. Jones,John Wildman +1 more
TL;DR: These relationships using parametric and semiparametric panel data models which ameliorate problems of mis-specification and unobservable heterogeneity are investigated and provide strong evidence for the impact of income on self-reported measures of health for men and women.
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Aspirations and Inequality
TL;DR: In this paper, the authors develop a theory in which societywide economic outcomes shape individual aspirations, which affect the investment incentives of individuals, and explore conditions under which growth is compatible with long-run equality in the distribution of income.
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The social basis of interdependent preferences
TL;DR: The authors discuss the advantages and disadvantages of modelling social concerns in this way and provide examples that illustrate how concerns for relative standing can affect savings, investment, and labor choice decisions, even when there is no similar concern in the ''deep' preferences.