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Keeping up with the Joneses

Book ID: 119743529
Publisher: The Institution of Electrical Engineers
Year: 1991
Tongue: English
Weight: 373 KB
Volume: 70
Category: Article
ISSN: 0956-9944
DOI: 10.1049/me:19910090

No coin nor oath required. For personal study only.

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## ABSTRACT A recent class of models on ‘keeping up with the Joneses’ suggests that comparison with the consumption of other individuals affects individual utility. This paper nests three variants of the ‘Joneses’ effect into an otherwise standard growth model. Under some conditions, growth and dis