The fight-or-flight response to the Joneses and inequality

DOI10.1016/J.JEDC.2019.01.003zbMath1411.91363OpenAlexW2912583803WikidataQ128473092 ScholiaQ128473092MaRDI QIDQ1734583

Helle Bunzel, Richard C. Barnett, Joydeep Bhattacharya

Publication date: 27 March 2019

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://lib.dr.iastate.edu/cgi/viewcontent.cgi?article=1060&context=econ_workingpapers

zbMATH Keywords

income inequalityamplificationkeeping up with the Jonesesleisure distributionrat racewealth-dependent risk aversion

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42) Welfare economics (91B15)

Cites Work

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• The two sides of envy
• Choosing to keep up with the Joneses and income inequality
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• Linking consumption externalities with optimal accumulation of human and physical capital and intergenerational transfers
• A two-sector model of endogenous growth with leisure externalities
• Optimal Taxation when Consumers Have Endogenous Benchmark Levels of Consumption

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