Positional income concerns and personality: evidence from Germany

Tim Friehe, Mario Mechtel and Markus Pannenberg

Applied Economics Letters, 2018, vol. 25, issue 14, 1024-1028

Abstract: Positional income concerns (PIC) strongly influence economic behaviour and life outcomes. However, very little is known about the underlying heterogeneity regarding their importance across individuals on the one hand and across different reference groups on the other. Our analysis builds on representative survey data reporting PIC vis-à-vis seven reference groups, allowing us to identify marked heterogeneity both between and within subjects. We present evidence about who (in terms of personality) compares to whom (in terms of reference group).

Date: 2018
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DOI: 10.1080/13504851.2017.1391995

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