The quest for status is a powerful motivator, but does it affect inequality? This paper presents a novel lab experiment that was designed and conducted to identify the relationship between inequality, status signaling, debt, and conspicuous consumption. It reports three main findings: First, consumption increases when it is "conspicuous" (i.e. is both observable, and signals ability/status). Second, borrowing increases when consumption is conspicuous...
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INFORMATION
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2020/08/10
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Document de travail de recherche sur les politiques
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WPS9354
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1
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1
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2020/08/10
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Disclosed
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Borrowing to Keep Up (with the Joneses) : Inequality, Debt, and Conspicuous Consumption
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consumption
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