relation: http://eprints.imtlucca.it/3889/
title: Ordinal vs cardinal status: Two examples
creator: Bilancini, Ennio
creator: Boncinelli, Leonardo
subject: HB Economic Theory
description: 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.].
publisher: Elsevier
date: 2008
type: Article
type: PeerReviewed
identifier:   Bilancini, Ennio and Boncinelli, Leonardo  Ordinal vs cardinal status: Two examples.  Economics Letters, 101 (1).  pp. 17-19.  ISSN 01651765      (2008)  
relation: http://doi.org/10.1016/j.econlet.2008.03.027
relation: doi:10.1016/j.econlet.2008.03.027