Keeping up with the Joneses: Who loses out?

David Ulph

Economics Letters, 2014, vol. 125, issue 3, 400-403

Abstract: When individuals compare themselves to those with the same wage-rate, status concerns–Keeping up with the Joneses–lead individuals to work who otherwise would have chosen not to, and, for them, well-being is a decreasing function of the wage rate.

Keywords: Veblen effects; Labour supply; Nash equilibrium; Wages and well-being (search for similar items in EconPapers)
JEL-codes: D11 I31 J22 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:125:y:2014:i:3:p:400-403

DOI: 10.1016/j.econlet.2014.10.029

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