Econometrica Vol. 72 No. 1 2004
Information-Based Relative Consumption Effects
Abstract
Preferences exhibit relative consumption effects if a person's satisfaction with their own consumption appears to depend upon how much others are consuming. This paper examines a model of an evolutionary environment in which Nature optimally builds relative consumption effects into preferences in order to compensate for incomplete environmental information. Copyright Econometric Society 2004.
- DOI
- 10.1111/j.1468-0262.2004.00479.x
- Volume
- 72
- Issue
- 1
- Pages
- 93-118
- Language
- en
- Sources
- bibtex:phds-export.bib crossref openalex