Keeping up with "the joneses": Reference-dependent choice with social comparisons (Record no. 524256)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01186nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 231107b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Langtry, Alastair |
| 245 ## - TITLE STATEMENT | |
| Title | Keeping up with "the joneses": Reference-dependent choice with social comparisons |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | American Economic Journal: Microeconomics |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 15(3), Aug, 2023: p.474-500 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | Keeping up with "The Joneses" matters. This paper examines a model of reference-dependent choice where reference points are determined by social comparisons. An increase in the strength of social comparisons, even by only a few agents, increases consumption and decreases welfare for everyone. Strikingly, a higher marginal cost of consumption can increase welfare. In a labor market, social comparisons with coworkers create a big fish in a small pond effect, inducing incomplete labor market sorting. Further, it is the skilled workers with the weakest social networks who are induced to give up income to become the big fish. – Reproduced https://www.aeaweb.org/articles?id=10.1257/mic.20220088 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | American Economic Journal: Microeconomics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | LABOUR MARKET |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2023-11-07 | 15(3), Aug, 2023: p.474-500 | AR130133 | 2023-11-07 | Articles |