On the economics of others

Oded Stark

No 164965, Discussion Papers from University of Bonn, Center for Development Research (ZEF)

Abstract: We relate to others in two important ways: we care about others, and we care about how we fare in comparison to others. In some contexts, these two forms of relatedness interact. Caring about others can conveniently be labeled altruism. Caring about how we fare in comparison with others who fare better than ourselves can conveniently be labeled relative deprivation. I provide examples of domains in which the incorporation of altruism and relative deprivation can point to novel perspectives and suggest rethinking, and possibly revising, long-held views. And I show that there are domains in which consideration of relative deprivation can substitute for the prevalence of altruism, and vice versa. I conclude that this is a fascinating sphere for research on economics and social behavior.

Keywords: Consumer/Household Economics; Institutional and Behavioral Economics; International Development (search for similar items in EconPapers)
Pages: 10
Date: 2014-03
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-hpe, nep-mic and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: On the Economics of Others (2013)
Working Paper: On the economics of others (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ubzefd:164965

DOI: 10.22004/ag.econ.164965

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