On limiting the market for status signals
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In this paper, the impacts of tax policy and benefits on the signalling equilibrium are considered, and the benefits of a Pareto-improving tax policy are discussed. But the authors do not consider the impact of tax on the signaling equilibrium.About:
This article is published in Journal of Public Economics.The article was published on 1994-01-01 and is currently open access. It has received 265 citations till now. The article focuses on the topics: Tax policy & Inefficiency.read more
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Pricing anomalies in the market for diamonds: evidence of conformist behavior
Frank A. Scott,Aaron Yelowitz +1 more
TL;DR: For example, this paper found that people are willing to pay premiums upward of 18% for a diamond that is one-half carat rather than slightly less than a half carat and between 5% and 10% for an engagement ring with a one-carat.
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A Test of the Conspicuous-Consumption Model Using Subjective Well-Being Data
TL;DR: This paper showed that the signaling model of conspicuous consumption predicts that a consumer's well-being should increase based on his or her household's ranking of observable consumption within its reference group, but should not be affected by its ranking in the distribution of unobservable consumption.
Book ChapterDOI
Economics and Social Interaction: On the possible conflict between economic growth and social development
TL;DR: In this paper, the authors propose a simple model of private and social capital to study the relationship between economic growth and social development, and investigate whether these two processes move in the same direction or whether they conflict with each other.
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A Test of Conspicuous Consumption: Visibility and Income Elasticities
TL;DR: In this article, a stylized conspicuous consumption model is proposed, where income elasticity is endogenously predicted to be higher if a good is visible and lower if it is not.
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An Economic Model of Welfare Stigma
TL;DR: In this paper, the authors model the negative self-characterizations of welfare recipients as a form of social stigma, and use a utility maximization model to predict the impact of welfare programs on the low-income population.
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Are Workers Paid their Marginal Products
TL;DR: In this paper, the authors examine a variety of empirical evidence that relates to this proposition about the firm's internal wage structure and conclude that the competitive wage structure within a firm must be one in which individual wage differences understate individual differences in marginal products.
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Public provision of private goods and the redistribution of income
Timothy Besley,Stephen Coate +1 more