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Abstract / Description of output
This paper considers the effect of inequality when there are concerns for status.
We analyse the effects of linear redistributive taxes in an economy where agents’
utility depends both on consumption and on their rank in the distribution of
consumption of a positional good. This increase in equality increases the degree
of social competition. The equilibrium level of expenditure on the positional good
rises for most agents with the possible exception of some with above average
income. Equilibrium utility falls for those with average and above income, while
the utility of the poor may (or may not) rise
We analyse the effects of linear redistributive taxes in an economy where agents’
utility depends both on consumption and on their rank in the distribution of
consumption of a positional good. This increase in equality increases the degree
of social competition. The equilibrium level of expenditure on the positional good
rises for most agents with the possible exception of some with above average
income. Equilibrium utility falls for those with average and above income, while
the utility of the poor may (or may not) rise
| Original language | English |
|---|---|
| Publisher | Edinburgh School of Economics Discussion Paper Series |
| Number of pages | 15 |
| Publication status | Published - Nov 2004 |
Publication series
| Name | ESE Discussion Papers |
|---|---|
| No. | 127 |
Keywords / Materials (for Non-textual outputs)
- status
- relative standing
- income inequality
- consumption externalities
- C72
- D11
- D31
- D62
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Dive into the research topics of 'Consumption, Status and Redistribution'. Together they form a unique fingerprint.Research output
- 1 Discussion paper
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Consumption, Status and Redistribution
Hopkins, E. & Kornienko, T., 2004, UCLA Department of Economics, (Levine's Bibliography).Research output: Working paper › Discussion paper
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