Social Status in Economic Theory: A Review
32 Pages Posted: 9 Nov 2008
Date Written: August 1, 2008
Abstract
Social distinction or status is an important motivation of human behaviour. This paper provides a selective survey of recent advances in the economic analysis of the origins and consequences of social status. First, a selection of empirical research from a variety of scientific disciplines is discussed to underpin the further theoretical analysis. I then consider the origins and determinants of tastes for status, discuss the endogenous derivation of such a preferences for relative standing and assess the different formalisations these preferences. Subsequently, the consequences of preferences for status are studied for a variety of problems and settings. The last section discusses a number of implications of status concerns for normative economics and public policy.
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
What Can Happiness Research Tell Us About Altruism? Evidence from the German Socio-Economic Panel
-
The Social Costs of Civil Conflict: Evidence from Surveys of Happiness
By Heinz Welsch
-
Happiness, Habits and High Rank: Comparisons in Economic and Social Life
By Andrew Clark
-
Happiness, Habits and High Rank: Comparisons in Economic and Social Life
By Andrew Clark
-
Happy House: Spousal Weight and Individual Well-Being
By Andrew Clark and Fabrice Etile
-
Social Status in Economic Theory
By Tom Truyts
-
Social Comparison and Subjective Well‐Being: Does the Health of Others Matter?
