Status Buying Responses in a Survey of Students and Variations in Informational Levels

Kenneth V. Greene and Phillip J. Nelson

ICER Working Papers from ICER - International Centre for Economic Research

Abstract: This article reports on a survey of a large number of undergraduate students in the U.S. They were queried about whether they preferred living in a society where they had high relative income (status) but low purchasing power or a society where they have low status, but high purchasing power.While the overwhelming majority indicate a desire to buy status, the information given about intergenerational mobilty and amenities like health available in the different socities makes a big difference in the responses. The data indicate that that the majority desiring to buy status disappears with better information.

Pages: 26 pages
Date: 2004-09
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Persistent link: https://EconPapers.repec.org/RePEc:icr:wpicer:21-2004

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