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Relative Income Position and Performance: An Empirical Panel Analysis

Benno Torgler, Sascha Leonard Schmidt () and Bruno S. Frey ()
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Benno Torgler: Yale Center for International and Area Studies

No 2006.39, Working Papers from Fondazione Eni Enrico Mattei

Abstract: Many studies have established that people care a great deal about their relative economic position and not solely, as standard economic theory assumes, about their absolute economic position. However, behavioral evidence is rare. This paper provides an empirical analysis on how individuals’ relative income position affects their performance. Using a unique data set for 1114 soccer players over a period of eight seasons (2833 observations), our analysis suggests that the larger the income differences within a team, the worse the performance of the soccer players is. The more the players are integrated in a particular social environment (their team), the more evident this negative effect is.

Keywords: Relative Income; Positional Concerns; Envy; Performance; Social Integration (search for similar items in EconPapers)
JEL-codes: D00 D60 L83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-cbe and nep-spo
Date: 2006-02
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