SOCIAL STATUS IN ECONOMIC THEORY

Tom Truyts

69 citations0/0 files storedJournal of Economic Surveys

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Experimental Behavioral Economics Studies Income, Poverty, and Inequality Economic Theory and Institutions

Abstract

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 concerns. 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 preferences for relative standing and assess the different formalizations of 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.

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References

1974Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition 1969Economy and Society: An Outline of Interpretive Sociology 1962College Admissions and the Stability of Marriage 1974Does Economic Growth Improve the Human Lot? Some Empirical Evidence 1871The descent of man, and selection in relation to sex 1991Health inequalities among British civil servants: the Whitehall II study 1973A Theory of Marriage: Part I 1980La distinction, critique sociale du jugement

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