Preferences for status: Evidence and economic implications

Ori Heffetz*, Robert H. Frank

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

117 Scopus citations

Abstract

This chapter brings together some of the recent empirical and experimental evidence regarding preferences for social status. While briefly reviewing evidence from different literatures that is consistent with the existence of preferences for status, we pay special attention to experimental work that attempts to study status directly by inducing it in the lab. Finally, we discuss some economic implications.

Original languageAmerican English
Title of host publicationHandbook of Social Economics
PublisherElsevier B.V.
Pages69-91
Number of pages23
Edition1 B
DOIs
StatePublished - 2011
Externally publishedYes

Publication series

NameHandbook of Social Economics
Number1 B
Volume1
ISSN (Print)1570-6435

Keywords

  • Conspicuous consumption
  • Positional concerns
  • Positional externalities
  • Preferences for status
  • Relative income
  • Status experiments
  • Subjective well-being

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