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Ordinal vs cardinal status: Two examples

Bilancini, Ennio and Boncinelli, Leonardo Ordinal vs cardinal status: Two examples. Economics Letters, 101 (1). pp. 17-19. ISSN 01651765 (2008)

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We demonstrate that in models where agents have concerns for status the model predictions can drastically change depending on whether status is modelled as an ordinal or cardinal magnitude. As a proof, we show that two well known theoretical findings are not robust to the substitution of ordinal status with cardinal status [Frank, R.H., The Demand for Unobservable and Other Positional Goods. American Economic Review, (75):101–116, 1985.] and viceversa [Clark, A. and Oswald, R.J., Comparison-Concave Utility and Following Behavior in Social and Economic Settings. Journal of Public Economics, (70):133–155, 1998.].

Item Type: Article
Identification Number: 10.1016/j.econlet.2008.03.027
Uncontrolled Keywords: Status; Social comparison; Ordinality; Cardinality
Subjects: H Social Sciences > HB Economic Theory
Research Area: Economics and Institutional Change
Depositing User: Caterina Tangheroni
Date Deposited: 24 Jan 2018 12:26
Last Modified: 24 Jan 2018 12:26
URI: http://eprints.imtlucca.it/id/eprint/3889

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