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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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Abstract

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: https://doi.org/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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