Information-Based Relative Consumption Effects

Larry Samuelson

Econometrica, 2004, vol. 72, issue 1, 93-118

Abstract: Preferences exhibit relative consumption effects if a person's satisfaction with their own consumption appears to depend upon how much others are consuming. This paper examines a model of an evolutionary environment in which Nature optimally builds relative consumption effects into preferences in order to compensate for incomplete environmental information. Copyright Econometric Society 2004.

Date: 2004
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