How much do others matter? Explaining positional concerns for different goods and personal characteristics

Inga Hillesheim and Mario Mechtel

Journal of Economic Psychology, 2013, vol. 34, issue C, 61-77

Abstract: We test concerns for relative standing with respect to private consumption, income, leisure, savings, and personal characteristics, using data from a classroom survey. Our results show highest degrees of positionality for personal characteristics and income. In order to explain positionality, we employ survey participants’ ratings of items with respect to (i) observability and (ii) non-psychological negative externalities on others. Based on these ratings, our results show that non-psychological externalities play an important role for an item’s degree of positionality. In contrast to previous research, we find that there is no statistically significant effect of an item’s observability on its degree of positionality.

Keywords: Behavioral economics; Relative consumption; Other-regarding preferences (search for similar items in EconPapers)
JEL-codes: C91 D10 D63 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (26)

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Working Paper: How Much Do Others Matter? Explaining Positional Concerns for Different Goods and Personal Characteristics (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:34:y:2013:i:c:p:61-77

DOI: 10.1016/j.joep.2012.11.006

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