On limiting the market for status signals
TLDR
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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Social status in economic theory: a review
TL;DR: In this article, a selective survey of recent advances in the economic analysis of the origins and consequences of social status is provided, and the consequences of preferences for status are studied for a variety of problems and settings.
Subjective Well-being and Demonstration Effects Applied to the Housing Market
TL;DR: In this paper, an agent-based model of conspicuous consumption built on well-established social behaviors is developed, where the process of preference formation, based on imitation and differentiation under cognitive limitations, endogenously generates class-specific consumption profiles.
Why do consumers keep up with the Joneses
TL;DR: In this article, the authors examined twelve expenditure categories of consumption in Korea and found evidence for status-seeking motive channel, supply-driven demand channel, and trickle-down income channel which shed light on why consumers in Korea keep up with the Joneses.
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Laws and Norms with (Un)Observable Actions
Claude Fluet,Murat C. Mungan +1 more
TL;DR: In this paper, the authors analyze the interactions between social norms, the prevalence of regulated acts, and policies, and show that norms are ineffective incentivizers when acts are committed either very frequently or very infrequently, because noisy signals of behavior are then too weak to alter people's beliefs about others' behavior.
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Dynamic inefficiency by promoting relative consumption
TL;DR: In this article , the authors developed a dynamic model of consumption variety in status goods by introducing a realistic aspect that is new in the existing literature, that a good will not carry status appeal unless it is advertised.
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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