Gambling to leapfrog in status?

Tim Friehe and Mario Mechtel

Review of Economics of the Household, 2017, vol. 15, issue 4, No 11, 1319 pages

Abstract: Abstract This paper tests our theoretical prediction that households with positional concerns use gambling to attempt leapfrogging in the social hierarchy. We rely on household data that is representative for Germany and proxy the households’ positional concerns by their expenditures for conspicuous consumption. Our empirical results strongly indicate that households who care about status are not only more likely to participate in gambling but also to invest more in gambling.

Keywords: Conspicuous consumption; Status; Relative income; Gambling; Behavioral economics (search for similar items in EconPapers)
JEL-codes: D12 D14 D62 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: Gambling to Leapfrog in Status? (2014)
Working Paper: Gambling to Leapfrog in Status? (2013)
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DOI: 10.1007/s11150-015-9306-9

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