Scandinavian Working Papers in Economics
Working Papers in Economics,
University of Gothenburg, Department of Economics
No 220: Is Concern for Relative Consumption a Function of Relative Consumption?
Fredrik W. Andersson ()
Additional contact information
Fredrik W. Andersson: Department of Economics, School of Business, Economics and Law, Göteborg University, Postal: Box 640, SE 405 30 GÖTEBORG
Abstract: By using hypothetical choice experiments, this paper presents evidence that individuals' concern for relative consumption depends on their relative consumption. Individuals with consumption levels above society's average consumption level tend to have, in general, lower concern for relative consumption. This supports Duesenberry's (1949) notion that people are more concerned with upward social comparison than with downward social comparison.
Keywords: Relative consumption; marginal degree of positionality; choice experiments; questionnaire-experimental methods
JEL-codes: C91
16 pages, June 30, 2006
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